Alabama establishes Blockchain Study Commission

Governor Kay Ivey officially approved legislation establishing an Alabama Blockchain Study Commission. The bill was introduced in April by State Sen. Greg Albritton (R-Atmore).

The commission will begin by examining the laws and regulations governing blockchain and cryptocurrency within the state. It will also analyze the practicality and validity of using blockchain technology in government and business in Alabama, including government records, delivery of services, court proceedings, registries, voter records, and election results.

“The State of Alabama endeavors to be at the forefront of technological and economic innovation,” reads the resolution. “The nationwide growth of blockchain and cryptocurrency technology presents opportunities to increase Alabama’s standing as a national leader in the technology and financial services industries.”

RELATED: Cryptocurrency has a bipartisan appeal in Alabama, Coinbase policy expert says – ‘Crypto users in Alabama are really strong’

Per the new legislation, the commission members will include:

Here is the list without bullet points:

• One member appointed by the Governor
• One member of the House of Representatives appointed by the Speaker of the House of Representatives
• One member of the House of Representatives appointed by the Minority Leader of the House of Representatives
• One member of the Senate appointed by the President Pro Tempore of the Senate
• One member of the Senate appointed by the Minority Leader of the Senate
• The Secretary of State, or their designee
• The Attorney General, or their designee
• The State Treasurer, or their designee
• The Director of the Alabama Securities Commission, or their designee
• The Director of the Alabama Department of Finance, or their designee
• The President of the Alabama Public Service Commission, or their designee
• The Superintendent of the State Banking Department, or their designee
• The President of the Alabama Bankers Association, or their designee
• The Executive Director of the Alabama Blockchain Alliance, or their designee
• The Executive Director of the Energy Institute of Alabama, or their designee
• The President of the Alabama State Bar, or their designee
• The President of the Alabama Association for Justice, or their designee
• The President of the Business Council of Alabama, or their designee
• The Alabama State Director of the National Federation of Independent Business, or their designee
• The Administrator of the Alabama Credit Union Association, or their designee

Additional members may be added by majority vote of the commission membership.

The first meeting of the commission will be no later than August 1, 2024. The group will elect a chair and a vice chair at that time.

Austen Shipley is a staff writer for Yellowhammer News.