Spencer Cox, the governor of the US state of Utah, has signed a bill to establish the Blockchain and Digital Innovation Task Force after an almost 3-year discussion about setting up a task force to oversee blockchain and crypto initiatives.
Making recommendations
The bill was first introduced in early February this year and had to go through several Senate, House and fiscal actions before it could finally be signed by Governor Cox on March 24. In it, a number of primary tasks are assigned to the task force, such as making policy recommendations with regard to blockchain and related technologies. The bill includes the following:
“The task force will develop and introduce recommendations regarding policies related to the promotion of the adoption of blockchain, financial technology and digital innovation in the state.”
Up to 20 members in task force
The task force will reportedly consist of up to 20 members, all with diverse expertise in blockchain technology, cryptocurrency and financial technologies. Of these maximum 20 members, a maximum of five members will be appointed by, among others, the president of the Senate, a maximum of five members by the speaker of the House of Representatives and a maximum of five members by the governor. Under the bill, Utah’s finance department will be required to provide staff support to the task force.
Annually, on or before December 30, the task force will report to 2 committees of the Utah State Senate: the Interim Committee on Business and Labor and the Committee on Legislative Management.