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Committee sends blockchain and digital currency bill to study after heated debate over local control and consumer protections
Summary
House Bill 639, addressing blockchain and digital currencies, drew divided views on local control, noise and grid impacts, and consumer fraud. Committee adopted a sponsor-proposed amendment and ultimately moved the bill to interim study to allow further work on protections and definitions.
The Senate Commerce Committee on Tuesday considered House Bill 639, an act related to the use of and disputes over blockchain and digital currencies. The committee adopted an amendment sponsored by the Secretary of State and the Treasurer to tighten the bill's definition of a "digital asset exchange," then debated broader concerns about local control, environmental and community impacts, and consumer fraud.
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