RI
Rhode Island Senate Bill S0373

Rhode Island 2025 Regular Session

Rhode Island Senate Bill S0373

Introduced
2/26/25  
Refer
2/26/25  
Report Pass
6/5/25  

Caption

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 5 member commission to recommend legislative proposals for blockchain and cryptocurrency, and submit an interim progress report by January 5, 2026, and a final report by January 5, 2027, and would expire on February 5, 2027.)

Impact

If enacted, this resolution would create a five-member commission that includes representatives from various sectors, such as commerce, academia, and financial institutions. The establishment of this commission aims to assess potential legislative proposals which would create a favorable economic environment for blockchain and cryptocurrency. Such measures could result in the reform of existing laws or the introduction of new regulations, possibly influencing the economic landscape of the state significantly as it adapts to emerging technologies.

Summary

Joint Resolution S0373 proposes the formation of a special legislative commission to study the implications of blockchain technology and cryptocurrency within the state of Rhode Island. This commission will be tasked with reviewing data related to cryptocurrency, analyzing the current state of laws concerning these technologies, and soliciting input from industry experts. The goal is to explore ways to make Rhode Island a leading state in nurturing blockchain and cryptocurrency developments while ensuring appropriate consumer protections are in place.

Sentiment

The sentiment surrounding S0373 reflects a growing interest in harnessing blockchain technology and cryptocurrency for economic development. Supporters view the bill positively, seeing it as an opportunity for Rhode Island to position itself as a hub for innovation and financial technology. However, there may also be concerns regarding the risks associated with digital currencies and the need for strong consumer protections, indicating a mixed sentiment toward the balance between innovation and regulation.

Contention

Notable points of contention may arise around the adequacy of consumer protections and the regulatory measures that the commission will recommend. Some stakeholders might argue that a swift embrace of such emerging technologies without stringent regulations could lead to issues related to fraud, privacy, and market stability. The outcomes of the commission's studies and the subsequent proposals for legislation will be closely watched, potentially sparking debates on how best to govern and leverage blockchain technology.

Companion Bills

No companion bills found.

Previously Filed As

RI S2502

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 5 member commission to recommend legislative proposals for blockchain and cryptocurrency, and submit an interim progress report by January 5, 2025, and a final report by January 5, 2026, and expire on February 5, 2026.)

RI H7817

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 5 member commission to recommend legislative proposals for blockchain and cryptocurrency, and submit an interim progress report by January 5, 2025, and a final report by January 5, 2026, and expire on February 5, 2026.)

RI H7093

HOUSE RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY AND PROVIDE RECOMMENDATIONS AND COMMENTS FOR HEALTHCARE LIABILITY REFORM (This resolution creates a 15 member special legislative commission to study and provide recommendations and comments for healthcare liability reform, and who would report back to the House by January 1, 2025, and expire on February 1, 2025.)

RI H6401

House Resolution Creating A Special Legislative Commission To Study And Provide Recommendations And Comments For Healthcare Liability Reform (creates A 15 Member Legislative Commission To Study And Provide Recommendations And Annotations For Healthcare Liability Reform In Rhode Island, And Report Back To The House By January 15, 2024, And Expire On April 15, 2024.)

RI H7361

HOUSE RESOLUTION CREATING A SPECIAL COMMISSION TO MAKE A COMPREHENSIVE STUDY AND PROVIDE RECOMMENDATIONS FOR REMEDIES TO THE EROSION OF RHODE ISLAND BEACHES (Creates a 9 member commission to study and provide recommendations for remedies to the erosion of RI beaches, and would report back by January 5, 2025 and expire on March 5, 2025.)

RI S0142

Senate Resolution Creating A Special Legislative Commission To Study And Review Rhode Island's Minimum Wage (creates An Eleven (11) Member Special Legislative Study Commission Whose Purpose It Would Be To Study Rhode Island's Minimum Wage, And Who Reports Back To The Senate No Later Than May 4, 2024, And Whose Life Expires On January 4, 2025.)

RI S2124

SENATE RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY AND REVIEW RHODE ISLAND'S MINIMUM WAGE (Creates an eleven (11) member special legislative study commission whose purpose it would be to study Rhode Island's minimum wage, and who reports back to the Senate no later than May 4, 2025, and whose life expires on January 4, 2026.)

RI H8368

HOUSE RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY AND PROVIDE RECOMMENDATIONS TO UPDATE AND CLARIFY THE "RESIDENTIAL LANDLORD AND TENANT ACT" (This resolution would create an 11 member commission to study and provide recommendations to update and clarify the "Residential Landlord and Tenant Act", and would report back to the House by May 5, 2025, and would expire on June 5, 2025.)

RI S3146

SENATE RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY RENEWABLE ENERGY PROGRAMS (This resolution would create an eight (8) member special legislative study commission whose purpose it would be to study renewable energy programs, and who would report back to the Senate by February 14, 2025, and would expire on June 30, 2025.)

RI H5502

Joint Resolution Creating A Special Joint Legislative Commission To Study And Provide Recommendations To Protect Our Environment And Natural Resources From Plastic Bottle Waste (creates A 16 Member Joint Commission To Study And Provide Recommendations To Protect Our Environment From Plastic Bottle Waste, And Who Would Report Back To The General Assembly By February 28, 2024, And Expire On June 30, 2024.)

Similar Bills

AZ HB2654

Cryptocurrency and blockchain commission

HI SR26

Requesting The Department Of Commerce And Consumer Affairs To Create A Task Force To Study The Approval Of Blockchain Technology And Cryptocurrency In The State.

HI SCR31

Requesting The Department Of Commerce And Consumer Affairs To Create A Task Force To Study The Approval Of Blockchain Technology And Cryptocurrency In The State.

HI SB2695

Relating To Cryptocurrency.

ME LD1286

Resolve, to Establish the Commission to Study the Impact of Blockchain Technology and Cryptocurrency on Maine's Economy and the Risks of Fraud and Theft to Maine Consumers

VA SB439

Blockchain and cryptocurrency; Joint Commission on Technology & Science to examine use, etc.

AZ HB2387

Cryptocurrency kiosk; license; fraud prevention

RI S2502

JOINT RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY (Creates a 5 member commission to recommend legislative proposals for blockchain and cryptocurrency, and submit an interim progress report by January 5, 2025, and a final report by January 5, 2026, and expire on February 5, 2026.)