10 May 2022 09:02, UTC
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The governor of Utah, in the Western United States, Spencer Cox, has approved the creation of a special task force on blockchain and digital innovation. Reportedly, its work will focus on developing recommendations for local government related to the impact of modern technology on policy.
The Cointelegraph business publication claims that the Utah Legislature was not immediately presented with a proposal for the task force. HB 335, which appeared back in early February, had to go through a long bureaucratic road – getting approval from several senates and the IRS – before it could be passed. A total of two months passed before the document was on the governor’s desk, which is how long it took the various agencies to study the issue in detail.
“The task of the Task Force is to develop a strategy and detailed recommendations for the implementation of blockchain, as well as related technologies. Members of the group will have to assess all of the risks and implications of digital technology for each of the fields,” the Cointelegraph reports, citing Utah state authorities.
Among other things, it is worth noting that the task force will consist of 20 people. They will be high-level experts with experience in blockchain, cryptography and financial technology. Among the “twenty” experts, by the way, five people will represent the interests of the Senate, five people will represent the interests of the House of Representatives and five more will represent the interests of the governor of the state directly.
According to the regulations already approved, the task force will be required to report its findings by November 30 of each year. Relevant documents must be sent simultaneously to the two Senate committees designated to be responsible for the activities of the G-20. These are the Interim Committee on Business and Labor and the Committee on Government Administration.
On a final note, it is worth mentioning that the SEC recently announced its intention to double the number of staff responsible for the safety of crypto investors.
As a reminder, we previously reported that authorities in several U.S. states simultaneously began drafting new bills for the crypto industry.
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