This resolution proposes the creation of a special legislative study commission to explore the potential of blockchain and cryptocurrency in enhancing Rhode Island's economy. The commission will consist of five members, including representatives from the Rhode Island Secretary of Commerce, the Department of Business Regulation, an academic institution, a financial institution, and an expert in federal securities law. The commission's objectives include reviewing data on blockchain and cryptocurrency, assessing the current state of related laws in Rhode Island, studying non-fungible tokens (NFTs), soliciting industry expert opinions, and compiling potential legislative recommendations to foster a pro-business climate for blockchain and cryptocurrency in the state.

The commission is tasked with submitting an interim report by January 5, 2025, and a final report by January 5, 2026, detailing their findings and legislative proposals to the General Assembly, the Secretary of Commerce, and the General Treasurer. The reports will cover the scope of blockchain and cryptocurrency nationally, the status of these technologies in Rhode Island, and suggested legislation to promote a positive economic environment for their growth. The commission's work is set to conclude on February 5, 2026, and all reports will be made publicly available on the websites of the Department of Commerce and the Department of Business Regulation.