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S2198A
2026 -- S 2198 SUBSTITUTE A
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LC004193/SUB A
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STATE OF RHODE ISLAND
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2026
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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
Referred To:
Senate Artificial Intelligence & Emerging Tech
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WHEREAS, Cryptocurrency is a medium of exchange that has a monetary value as is the
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US dollar; and
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WHEREAS, Blockchain is a storage technology used for saving data on decentralized
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networks; and
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WHEREAS, A blockchain records and confirms cryptocurrency trades, much like a
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digital ledger, and collects and stores the information when a person buys, sells, or exchanges
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cryptocurrency; and
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WHEREAS, To benefit the State’s economy, there is a significant and beneficial requisite
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to determine how to make Rhode Island the most forward thinking and pro business state in order
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to foster a positive economic environment for blockchain and cryptocurrency as well as
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appropriate consumer protections; now, therefore be it
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RESOLVED, That a special legislative study commission be and the same is hereby
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created consisting of ten (10) members: three (3) of whom shall be members of the Rhode Island
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Senate, to be appointed by the President of the Senate, not more than two (2) from the same
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political party;, one of whom shall serve as chair of the commission; one of whom shall be the
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Rhode Island Secretary of Commerce, or designee; one of whom shall be the Director of the
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Department of Business Regulation, or designee; and five (5) of whom shall be members of the
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general public, to be appointed by the President of the Senate; one of whom shall be a
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representative from an academic institution with experience or knowledge in blockchain
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technology; one of whom shall be a representative of a financial institution; one of whom shall be
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a representative with experience in federal securities law; one of whom shall be a representative
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with experience and expertise in blockchain technology; and one of whom shall be a
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representative with experience and expertise in cryptocurrency.
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In making appointments to the study commission, the appointing authority shall strive to
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ensure that the study commission membership is diverse in educational background, ethnicity,
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race, sex, and geographic residency.
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The purpose of said commission shall be to:
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Review data and information on the scope of blockchain and cryptocurrency throughout
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the country;
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Determine the current status of blockchain and cryptocurrency in relation to related laws
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in this State;
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Study non-fungible tokens, including the use, prevalence, function, and current regulation
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of non-fungible tokens;
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Solicit ideas and opinions from industry experts; and
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Compile an overview of potential legislation with recommendations on which legislation
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will help make this State the most forward thinking and pro business state for blockchain
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and cryptocurrency and foster a positive economic environment for blockchain and
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cryptocurrency as well as appropriate consumer protections.
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Forthwith upon passage of this resolution, the Chair shall call the first meeting of the
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study commission.
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A majority of the members of the study commission constitutes a quorum for the purpose
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of meeting and conducting business.
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Vacancies in said commission shall be filled in like manner as the original appointment.
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The membership of said commission shall receive no compensation for their services, but
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receive reimbursement for expenses incurred in attending meetings of the study commission and
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for travel incident thereto, in accordance with the comprehensive travel regulations promulgated
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by the department of finance and administration and approved by the attorney general and
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reporter.
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All departments and agencies of the state shall furnish such advice and information,
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documentary and otherwise, to said commission and its agents as is deemed necessary or
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desirable by the commission to facilitate the purposes of this resolution.
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The study commission shall meet at a time and place and at a frequency determined by
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the Chair but no less than four (4) times per calendar year. Except for the first meeting of the
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study commission, all other meetings of the study commission, including emergency meetings,
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are held at the call of the Chair with written notice given to all study commission members.
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The study commission may conduct regular or special meetings by electronic or other
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means pursuant to the open meetings act; and
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The study commission shall agree upon any findings and recommendations by a majority
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vote of the total membership of the study commission; now, therefore be it
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RESOLVED, That the commission shall submit an interim progress report of its findings
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and recommendations to the General Assembly no later than January 5, 2027, and shall submit a
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final report of its findings and recommendations to the Secretary of Commerce, the General
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Treasurer, and the General Assembly, no later than January 5, 2028, and shall expire on February
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5, 2028; and be it further
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RESOLVED, The final report must include:
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Data and information on the scope of blockchain and cryptocurrency throughout the
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country;
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The current status of blockchain and cryptocurrency in relation to related laws in this
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State; and
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Recommended legislative proposals to encourage a positive economic environment for
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blockchain and cryptocurrency in this State as well as appropriate consumer protections;
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and be it further
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RESOLVED, That the required reports may be submitted electronically, and must be
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posted on the Department of Commerce and the Department of Business Regulation's website in
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a publicly accessible place.
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LC004193/SUB A
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EXPLANATION
BY THE LEGISLATIVE COUNCIL
OF
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
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This resolution would create a ten (10) member special legislative study commission
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whose purpose it would be to recommended legislative proposals to encourage a positive
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economic environment as well as appropriate consumer protections for blockchain and
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cryptocurrency in this State, and who would submit an interim progress report and
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recommendations to the Secretary of Commerce, the General Treasurer, and the General
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Assembly no later than January 5, 2027, and a final report by January 5, 2028, and whose life
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would expire on February 5, 2028.
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LC004193/SUB A
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