If enacted, this bill would update current statutes by renaming the "Regulatory Sandbox Program" to the "Financial Technology, Digital Assets and Blockchain Sandbox Program" and expanding the definition of "innovation" to explicitly include digital assets. The bill would also introduce a new definition for "digital assets," encompassing virtual currencies, cryptocurrencies, and other digital-only assets that provide economic, proprietary, or access rights. Additionally, it would make various technical and conforming changes throughout the relevant statutes.

The bill would delete references to the "regulatory" aspect of the sandbox program, replacing them with the new title and ensuring that the program's focus is on financial technology and digital assets. It would maintain the existing framework for how participants can apply to test innovations while clarifying that the Attorney General has the authority to enforce applicable state laws for sandbox participants. Overall, the changes aim to modernize the program to better accommodate innovations in financial technology and digital assets.

Statutes affected:
Introduced Version: 41-1491.10, 41-5601, 41-5602, 41-5603, 41-5604, 41-5605, 41-5606, 41-5607, 41-5608, 41-5609, 41-5611, 41-1491.34, 41-1491.24, 41-1491.29, 35-146, 35-147, 44-1531.01, 6-1241, 6-601, 6-114, 6-632, 6-635, 6-637, 44-281, 44-286, 44-287, 44-288, 44-289, 44-290, 44-291, 44-293, 47-9601, 44-3241, 44-7601, 18-552, 18-551
House Engrossed Version: 41-1491.10, 41-5601, 41-5602, 41-5603, 41-5604, 41-5605, 41-5606, 41-5607, 41-5608, 41-5609, 41-5611, 41-1491.34, 41-1491.24, 41-1491.29, 35-146, 35-147, 44-1531.01, 6-1241, 6-601, 6-114, 6-632, 6-635, 6-637, 44-281, 44-286, 44-287, 44-288, 44-289, 44-290, 44-291, 44-293, 47-9601, 44-3241, 44-7601, 18-552, 18-551