Virginia Lawmakers Pass Bill to Establish Cryptocurrency Working Group

According to Foresight News, lawmakers in the US state of Virginia passed Bill No. 339 on March 4th with 97 votes in favor. The bill proposes the establishment of a working group dedicated to studying the entire cryptocurrency ecosystem and making recommendations to promote the expansion of the technology. The upcoming cryptocurrency working group will consist of 13 members, including five from the Senate, five from the House of Representatives, two non-legislative citizen members from the blockchain industry, and one non-legislative citizen representing local government. The deadline for the working group is November 1, 2024. The state has also recently introduced cryptocurrency mining legislation aimed at exempting crypto miners from obtaining a money transmitter license.