Rhode Island Senate Clears Way For Commission To Study Block Chain And Crypto

PROVIDENCE, RI — The Rhode Island state Senate cleared the way for a commission to study the effects of blockchain and cryptocurrency in the state.

The bill for the committee was sponsored by Senate Finance Committee Chairman Louis P. DiPalma, D-Middletown, Little Compton, Newport and Tiverton.

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“Whether we like it or not, blockchain technology and cryptocurrency have arrived and their impact will continue to grow in our daily lives," DiPalma said in a media release.

"It is imperative that the state is prepared to maximize this new technology’s effects for the betterment of Rhode Island and this commission is the first step in that preparation,” DiPalma said.

The legislation would create a 10-member commission to "recommend legislative proposals to encourage a positive economic environment and appropriate consumer protections for blockchain and cryptocurrency in Rhode Island," the release said.

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