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SR 2198

SENATE RESOLUTION CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY BLOCKCHAIN AND CRYPTOCURRENCY

2026 Regular Session Introduced by John Burke and 5 co-sponsors

Rhode Island would form a temporary commission to study blockchain and crypto, producing findings and recommendations on regulation, economics, safety, and public use.

06/10/2026 Senate passed Sub A
0
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Bill Summary · SR 2198

Summary of SR 2198 (Rhode Island) – 2026

Purpose and Intent

  • SR 2198 creates a Special Legislative Commission to study blockchain technology and cryptocurrency.
  • The commission's goal is to study the implications, opportunities, risks, and regulatory considerations related to blockchain and digital currencies within the state.

Key Provisions

  • Establishment of a Special Legislative Commission (a temporary, joint body) to examine:
    • Technological fundamentals and potential Rhode Island applications of blockchain.
    • Economic impacts, job creation, and industry growth related to cryptocurrency and blockchain services.
    • Regulatory and supervisory frameworks appropriate for Rhode Island, including consumer protection, securities laws, money transmission, energy usage, and data security.
    • Tax, fiscal, and revenue considerations associated with blockchain-based activities and crypto markets.
    • Public safety, law enforcement, and anti-money-laundering considerations specific to digital assets.
    • Implications for state agencies, procurement, licensing, and state-run or incentivized blockchain projects.
    • Potential pilot programs, pilot governance models, and public-private partnership opportunities.
    • Educational and workforce development needs to support a Rhode Island blockchain ecosystem.
  • The commission will produce findings, recommendations, and any proposed legislation or administrative actions to the General Assembly.

Membership and Organization (as typical for such commissions)

  • Likely composition includes members of the Rhode Island Senate and House as appointed by legislative leadership, with participation from relevant state agencies, industry stakeholders, academic experts, and the public.
  • The bill typically designates a chair or co-chairs and procedural guidelines (meetings, public hearings, report deadlines).

Timelines and Procedural Details

  • Introduction and Referral: January 23, 2026 (referred to Senate Artificial Intelligence & Emerging Technology committee).
  • Committee Action: April 3, 2026 – Scheduled for hearing/consideration; committee recommended the measure be held for further study (April 7, 2026).
  • Scheduling: The measure was scheduled for consideration on May 29, 2026, with a hearing/meeting potentially occurring by June 2, 2026.
  • Purpose of the schedule: To allow the commission to convene, hold hearings, gather testimony, and develop a final report with recommendations.

Who Would Be Affected

  • State government operations and regulatory framework in Rhode Island.
  • Rhode Island residents, businesses, and investors involved in blockchain, cryptocurrency, or related digital assets.
  • Public and private stakeholders (industry players, academic institutions, consumer groups) who participate in or are impacted by blockchain adoption, regulation, or policy development.
  • Potentially affected state agencies (financial, regulatory, energy, consumer protection) through new guidance or statutory recommendations.

Potential Impacts and Implications

  • The commission could yield comprehensive policy guidance on how Rhode Island might regulate, encourage, or pilot blockchain and crypto initiatives.
  • Findings may influence future legislation, agency rulemaking, licensing regimes, and consumer protections in the digital asset space.
  • Could identify opportunities for economic development, workforce training, and public sector use of blockchain (e.g., procurement, record-keeping, or identity management), while addressing risks such as fraud, energy use, and financial volatility.

Notes

  • The bill is a joint resolution, focusing on study rather than immediate substantive regulatory changes.
  • Supported by multiple co-sponsors, indicating cross-member interest in exploring blockchain/crypto policy.
  • No specific dollar amounts or deadlines are provided; the effort centers on forming a commission and delivering recommendations.

If you’d like, I can add a section outlining potential questions the commission might address or map out a hypothetical timeline for the commission’s activities once formed.

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

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