R 403
2026 -- S 2198 SUBSTITUTE A
Enacted 06/10/2026

S E N A T E   R E S O L U T I O N
CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY

Introduced By: Senators DiPalma, Gu, Burke, Urso, Paolino, and Zurier

Date Introduced: January 23, 2026

     WHEREAS, Cryptocurrency is a medium of exchange that has a monetary value as is the
US dollar; and
     WHEREAS, Blockchain is a storage technology used for saving data on decentralized
networks; and
     WHEREAS, A blockchain records and confirms cryptocurrency trades, much like a
digital ledger, and collects and stores the information when a person buys, sells, or exchanges
cryptocurrency; and
     WHEREAS, To benefit the State’s economy, there is a significant and beneficial requisite
to determine how to make Rhode Island the most forward thinking and pro business state in order
to foster a positive economic environment for blockchain and cryptocurrency as well as
appropriate consumer protections; now, therefore be it
     RESOLVED, That a special legislative study commission be and the same is hereby
created consisting of ten (10) members: three (3) of whom shall be members of the Rhode Island
Senate, to be appointed by the President of the Senate, not more than two (2) from the same
political party;, one of whom shall serve as chair of the commission; one of whom shall be the
Rhode Island Secretary of Commerce, or designee; one of whom shall be the Director of the
Department of Business Regulation, or designee; and five (5) of whom shall be members of the
general public, to be appointed by the President of the Senate; one of whom shall be a
representative from an academic institution with experience or knowledge in blockchain
technology; one of whom shall be a representative of a financial institution; one of whom shall be
a representative with experience in federal securities law; one of whom shall be a representative
with experience and expertise in blockchain technology; and one of whom shall be a
representative with experience and expertise in cryptocurrency.
     In making appointments to the study commission, the appointing authority shall strive to
ensure that the study commission membership is diverse in educational background, ethnicity,
race, sex, and geographic residency.
     The purpose of said commission shall be to:
     Review data and information on the scope of blockchain and cryptocurrency throughout
     the country;
     Determine the current status of blockchain and cryptocurrency in relation to related laws
     in this State;
     Study non-fungible tokens, including the use, prevalence, function, and current regulation
     of non-fungible tokens;
     Solicit ideas and opinions from industry experts; and
     Compile an overview of potential legislation with recommendations on which legislation
     will help make this State the most forward thinking and pro business state for blockchain
     and cryptocurrency and foster a positive economic environment for blockchain and
     cryptocurrency as well as appropriate consumer protections.
     Forthwith upon passage of this resolution, the Chair shall call the first meeting of the
study commission.
     A majority of the members of the study commission constitutes a quorum for the purpose
of meeting and conducting business.
     Vacancies in said commission shall be filled in like manner as the original appointment.
     The membership of said commission shall receive no compensation for their services, but
receive reimbursement for expenses incurred in attending meetings of the study commission and
for travel incident thereto, in accordance with the comprehensive travel regulations promulgated
by the department of finance and administration and approved by the attorney general and
reporter.
     All departments and agencies of the state shall furnish such advice and information,
documentary and otherwise, to said commission and its agents as is deemed necessary or
desirable by the commission to facilitate the purposes of this resolution.
     The study commission shall meet at a time and place and at a frequency determined by
the Chair but no less than four (4) times per calendar year. Except for the first meeting of the
study commission, all other meetings of the study commission, including emergency meetings,
are held at the call of the Chair with written notice given to all study commission members.
     The study commission may conduct regular or special meetings by electronic or other
means pursuant to the open meetings act; and
     The study commission shall agree upon any findings and recommendations by a majority
vote of the total membership of the study commission; now, therefore be it
     RESOLVED, That the commission shall submit an interim progress report of its findings
and recommendations to the General Assembly no later than January 5, 2027, and shall submit a
final report of its findings and recommendations to the Secretary of Commerce, the General
Treasurer, and the General Assembly, no later than January 5, 2028, and shall expire on February
5, 2028; and be it further
     RESOLVED, The final report must include:
     Data and information on the scope of blockchain and cryptocurrency throughout the
     country;
     The current status of blockchain and cryptocurrency in relation to related laws in this
     State; and
     Recommended legislative proposals to encourage a positive economic environment for
     blockchain and cryptocurrency in this State as well as appropriate consumer protections;
     and be it further
     RESOLVED, That the required reports may be submitted electronically, and must be
posted on the Department of Commerce and the Department of Business Regulation's website in
a publicly accessible place.
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LC004193/SUB A
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