Cryptocurrency

2024

Artificial Intelligence

Autism

Virginia’s Subcommittee on General Government suggested giving $17,192 each year to the Blockchain and Cryptocurrency Commission. This money will be given in 2025 and 2026. It’s a bit less than what the authority assigned to the Artificial Intelligence Commission, which is getting $22,048 per year for the same time. However, the Virginia Autism Advisory Council will only get $12,090 every year for two years.&nbsp; The 2024 session report 
According to a2024 session report, In 2024, Virginia created a group called the Blockchain and Cryptocurrency Commission to look at blockchain tech. This group will be part of the government and will have 15 people. Their job is to learn and give suggestions about blockchain technology. Which is what makes cryptocurrencies like Bitcoin work, and digital assets. 
The reports stated, ” The General Government Subcommittee has reviewed the provisions of Senate Bills 29 and 30 for those portions of the budget that fall under its purview. The areas contained within General Government cross six secretariats, more than 40 agencies, and dozens of commissions and boards.”
“One of the primary responsibilities of the Subcommittee is recognizing the value of the Commonwealth’s public workforce. In that recognition, the Subcommittee recommends $421.6 million from the general fund to ensure that our state employees, state-supported local employees, full-time and adjunct faculty, and our graduate teaching assistants can count on a 2.5 percent pay increase effective in the September 30, 2024 paycheck, and an additional increase of 2.5 percent effective July 1, 2025 ” it adds. The session report said they plan to spend $17,192 each year. This money is for having meetings and paying travel expenses. Virginia’s decision and the US SEC’s lack of regulation 
Virginia is moving forward with rules for crypto. Recently, the state Senate agreed to make a group to look into them. This shows both parties agree it’s important. Virginia also wants to help crypto-miners. They’re making a law to make things easier for them, which many people think is good for miners and mining businesses in the state.
The US SEC is taking a tough stance on crypto, as seen in its decision to deny a petition by <a href="https://news.todayq.com/sec-denies-petition-for-rulemaking-filed-by-coinbase/" target="_blank" rel="noopener noreferrer nofollow">Coinbase Global</a>, the country’s largest crypto exchange, in December. Coinbase had requested new rules from the SEC for the digital asset sector but the commission, in a 3-2 vote, declined to propose new regulations, stating that it did not believe current regulations were “unworkable” for the crypto industry.&nbsp;
Despite the growing importance of crypto, they seem to receive less attention and funding compared to other sectors such as <a href="https://news.todayq.com/100-million-set-aside-by-bosch-and-a-british-artificial-intelligence-ai-company-to-develop-web3-and-ai/" target="_blank" rel="noopener noreferrer nofollow">artificial intelligence </a>(AI). While some state committees, like Virginia’s, are beginning to allocate funds to blockchain-friendly initiatives, the lack of clear regulatory guidance from the SEC continues to pose obstacles for the crypto industry.
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Virginia’s approach to crypto regulation amid SEC’s hard stance

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