ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fifth Legislature

First Regular Session

HB 2544: blockchain and cryptocurrency study committee

Sponsor: Representative Wilmeth, LD 15

Committee on Commerce

Overview

Establishes the Blockchain and Cryptocurrency Study Committee (Committee).

History

Blockchain is a cryptographically secured distributed ledger that records transactions chronologically, permanently and unalterably.

Blockchain technology is distributed ledger technology that uses a distributed, decentralized, shared and replicated ledger, which may be public or private, permissioned or permissionless, or driven by tokenized crypto economics or tokenless. The data on the ledger is protected with cryptography, is immutable and auditable and provides an uncensored truth (A.R.S. § 44-7061).

Provisions

1. Establishes the 11-member Committee and outlines the Committee membership. (Sec. 1)

2. Directs the Committee to:

a) Meet as often as the chairperson deems necessary;

b) Review data on the scope of blockchain and cryptocurrency throughout the country;

c) Compile an overview of potential legislation;

d) Solicit ideas and opinions of industry experts on additional legislation; and

e) Submit a report regarding the Committee's findings and recommendations of legislative priorities that will foster a positive blockchain and cryptocurrency economic environment in this state to the Speaker of the House of Representatives and provide a copy to the Secretary of State by December 31, 2021. (Sec. 1)

3. Terminates the Committee October 1, 2022. (Sec. 1)

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7. HB 2544

8. Initials PRB Page 0 Commerce

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