Rhode Island Reintroduces Bill to Study Blockchain and Cryptocurrency

Rhode Island lawmakers have reintroduced Senate Bill S 2198, which proposes establishing a five-member legislative commission to study blockchain technology and cryptocurrency activities nationwide. The commission, chaired by the Secretary of Commerce, will review current state laws, examine NFTs, consult experts, and provide recommendations to promote a pro-business environment while ensuring consumer protections. This bill previously passed the Senate but stalled in the House last year. Separately, lawmakers also reintroduced a bill (S2021) to create a temporary pilot program exempting small-scale Bitcoin transactions (up to $5,000 monthly, $20,000 annually) from state income and capital gains taxes starting in 2027.

(Source：Bitcoin Magazine)