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H 1247

An Act relative to preventing fraud and establishing regulations on certain virtual currencies

194th Legislature (2025-2026) Introduced by James Arena-DeRosa and 29 co-sponsors

Overview: H 1247, "An Act relative to preventing fraud and establishing regulations on certain virtual currencies", has a hearing rescheduled for October 7, 2025, from 10:30 AM to

Hearing rescheduled to 10/07/2025 from 10:30 AM-01:10 PM in A-2 and Virtual Hearing updated to New End Time
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WeVote Research Nonpartisan
Bill Summary · H 1247

Overview: H 1247, "An Act relative to preventing fraud and establishing regulations on certain virtual currencies", has a hearing rescheduled for October 7, 2025, from 10:30 AM to 1:10 PM, with a virtual hearing component.

Purpose and Intent: The bill aims to address concerns around fraud and consumer protection in the virtual currency market. The primary goal is to establish a regulatory framework for certain types of virtual currencies to prevent illicit activities and protect investors.

Key Provisions:
- Defines and classifies different types of virtual currencies
- Requires registration and licensing of virtual currency businesses
- Imposes consumer disclosure and anti-fraud requirements
- Grants regulatory oversight and enforcement authority to a state agency

Affected Parties and Impacts: The bill would primarily affect virtual currency businesses, investors, and consumers. The new regulations could increase compliance costs for industry players but may also enhance consumer confidence and protection in the virtual currency market.

Procedural and Timeline Considerations: The bill is currently in the hearing rescheduling stage, with a new hearing date set for October 7, 2025. The virtual hearing component suggests the legislature is considering remote participation options for stakeholders.

Compiled from official sources — confirm details with the bill’s official record.

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