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Senate advances Blockchain Technology Act, creates interim task force to study government uses
Summary
SB213 codifies a definition of blockchain, clarifies that certain blockchain tokens are not money transmission, and creates a task force to study blockchain applications for government, consumer protection, and investor fraud prevention. Sponsors will add the Division of Securities and insurance commissioner to the task force; bill passed second reading 23‑0.
Senator Hammert presented SB213, the Blockchain Technology Act, describing three main points: (1) a statutory definition of blockchain and blockchain technology, (2) a clarification that certain blockchain tokens are not money transmission, and (3) creation of an interim task force to study how blockchain could be used in government and to reduce investor fraud.
During floor discussion Senator Hilliard asked whether the task force would examine Bitcoin; Hammert replied the task force is explicitly focused on the underlying verification technology and government uses, but it could look at cryptocurrencies if members deem it relevant. Hammert said he will amend the task force membership on third reading to include the state Division of Securities and the commissioner of insurance.
The Senate recorded 23 yay votes, 0 nay, with 6 absent and placed the bill at the bottom of the third‑reading calendar.
Next steps: Sponsor plans a technical amendment on third reading to add named regulators to the task force and the bill will return for final consideration.
