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Key Takeaways
- Virginia proposes an annual fund of $17,192 for the Blockchain and Cryptocurrency Commission to support its mission of guiding and expanding blockchain and crypto initiatives within the state.
- The commission is to consist of 15 members.
- The Artificial Intelligence Commission is allocated $22,048 annually to ensure the ethical and legal application of AI technologies.
Virginia’s Subcommittee on General Government has proposed a modest annual fund of $17,192 to support the state’s newly established Blockchain and Cryptocurrency Commission.
The commission’s mandate includes the examination and guidance on blockchain technology and cryptocurrencies, with a focus on fostering growth within Virginia.
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This commission is set to be composed of 15 members, split between seven legislative and eight non-legislative appointees.
The proposal was reported on February 18 as part of a broader allocation exceeding $23.6 million aimed at various legislative departments for the fiscal years 2025 and 2026.
The Artificial Intelligence Commission, ensuring AI’s ethical and legal application, has been earmarked slightly more – $22,048 for the same timeframe.
This proposal signifies Virginia’s commitment to advancing blockchain and cryptocurrency technologies, alongside ethical AI use, setting a forward-looking precedent for technological growth and governance within the state.
In other news, the U.S. Treasury calls for increased legislative powers to combat illicit finance involving cryptocurrencies.
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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