S.B. 439: Blockchain and cryptocurrency; Joint Commission on Technology & Science to examine use, etc.

Blockchain and Cryptocurrency Commission established; report. Establishes the Blockchain and Cryptocurrency Commission in the legislative branch of state government for the purpose of studying and making recommendations related to blockchain technology and cryptocurrency and fostering the appropriate expansion of blockchain technology and the cryptocurrency industry in the Commonwealth. The bill provides that the Commission shall consist of 15 members and that meetings shall be held at the call of the chairman or whenever a majority of the members so request. The bill clarifies that appointments to the Commission are required to be made within 45 days of the effective date of the bill and that the chairman and vice-chairman of the Commission are required to meet with its members no later than 90 days after the effective date of the bill. Additionally, the bill directs the Commission to submit an executive summary to the Governor and the General Assembly of its findings and recommendations no later than one year after all appointments to the Commission have been made and annually thereafter and to submit such executive summary for processing no later than the first day of the 2026 Regular Session of the General Assembly.