21.3064.01000
Sixty-seventh
Legislative Assembly HOUSE CONCURRENT RESOLUTION NO. 3024
of North Dakota
Introduced by
Representatives Toman, Mock
1 A concurrent resolution directing the Legislative Management to consider studying the feasibility
2 and desirability of regulating special purpose depository institutions for cryptocurrency.
3 WHEREAS, there exists no uniformity with respect to how businesses that deal in virtual
4 currencies, also known as cryptocurrencies, such as Bitcoin, are treated among the states; and
5 WHEREAS, there is a dual need to protect consumers while also promoting continued
6 innovation by not saddling cryptocurrency businesses with regulatory burdens that make it
7 impractical to operate; and
8 WHEREAS, traditional money transmitter regulations are overly restrictive as they relate to
9 cryptocurrency; and
10 WHEREAS, special purpose depository institutions enable companies to offer banking
11 services for businesses unable to secure Federal Deposit Insurance Corporation-insured
12 banking services due to their dealings with cryptocurrencies;
13 NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF
14 NORTH DAKOTA, THE SENATE CONCURRING THEREIN:
15 That the Legislative Management consider studying the feasibility and desirability of
16 regulating special purpose depository institutions for cryptocurrency; and
17 BE IT FURTHER RESOLVED, that the Legislative Management report its findings and
18 recommendations, together with any legislation required to implement the recommendations, to
19 the Sixty-eighth Legislative Assembly.
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