Utah Governor approves of blockchain and digital innovation task force
Some of the primary duties assigned to the task force involve making policy recommendations related to blockchain and related technologies. After nearly a three-year-long discussion about establishing a task force to oversee blockchain and crypto initiatives, the governor of Utah, Spencer Cox, signed a bill to create the Blockchain and Digital Innovation Task Force.The Utah State Legislature first saw the introduction of the house bill (H.B. 335) in early February 2022, which took nearly two months to pass through several senate, house and fiscal actions before finally being signed by....
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The European Parliament, the legislative branch of the European Union, has approved a proposal for a task force dedicated to digital currencies and blockchain technology. A report drafted by European Parliament member (MEP) Jakob von Weizsäcker first began circulating in late February. It called for measured exploration of the technology by the European Commission, the executive branch of the EU, but stopped short of recommending more than closer monitoring. The report also urged EU leaders to address any risks related to money laundering and terrorism financing. In the months since, the....
The United Kingdom is the latest country to begin exploring the possibility of creating a central bank digital currency. Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency.In a document published by HM Treasury, the exchequer announced the creation of a CBDC taskforce in collaboration with the U.K.’s central bank.Jon Cunliffe, deputy governor of the Bank of England and Katharine Braddick, director general of financial services at HM Treasury will co-chair the task....
This week, the Conference of State Bank Supervisors (also known as the CSBS) made an announcement of a new task force charged with the task of studying today's changes in payment systems. The Task Force, aptly named the Emerging Payments Task Force, will set their attention on digital currencies and other innovations down the line "to determine the potential impact on consumer protection, state law, and banks and non-bank entities chartered or licensed by the states." The Task Force will engage with a broad range of stakeholders - including fellow state regulators, federal regulators,....
Hawaii is giving crypto regulation a serious focus now. Around the world, the drive for crypto regulation continues to take shape as more governments seek to establish regulatory frameworks for digital assets. Hawaii could be the latest state to do so, as a senate committee has recommended the formation of a task group to regulate […]
A public-private task force has submitted a report to the Biden administration that includes recommendations to tighten the regulation of cryptocurrencies, including bitcoin, with the aim to combat ransomware. “The cryptocurrency sector that enables ransomware crime should be more closely regulated,” the task force wrote. White House Urged to Tighten Crypto Regulation A task force, organized by the Institute for Security and Technology, submitted a report entitled “Combating Ransomware” to the Biden administration Thursday with 48 recommendations, some of which aim....