The Utah Governor has passed legislation to create a Task Force dedicated to blockchain and digital innovation

The Utah Governor has passed legislation to create a Task Force dedicated to blockchain and digital  ...

Spencer Cox, the governor of Utah, has written a proposal to establish a "Blockchain and Digital Innovation Task Force" in order to enable Utah to advise policy actions to the US government. This comes nearly three years after discussions about forming the task force began and less than two months after announcing the plan on March 24.

The task force will consist of 20 people with adequate experience in crypto, financial, and blockchain technologies. The governor, house speaker, and president of the Senate will be given the task of signing up a maximum of five representatives for each task team. Notably, staff assistance will also be provided by the Utah Department of Finance.

The task force will have to submit its report to the Legislative Management Committee and the Business and Labor Interim Committee of the Utah Senate by November 30. Despite this, there is a set time frame for the start of the task team.

  • Dollar-Pegged Stablecoins Now Part of US Financial System, Details Here

In a press release, the SEC cited a booming period for crypto markets and a corresponding responsibility to keep investors safe from the growing dangers of fraudulent investment schemes.