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Virginia proposes $17,192 annual funding for its Blockchain and Cryptocurrency Commission for 2025 and 2026 to study and recommend blockchain technology.
The allocation is part of a broader effort to support the state’s engagement with emerging technologies, as outlined in a report published on Sunday.
Big News for the Crypto Community! 🚀 Virginia is stepping up its game in the blockchain and cryptocurrency space by proposing a yearly fund of $39,240 for two newly established commissions dedicated to artificial intelligence and cryptocurrency. This initiative marks a… pic.twitter.com/Liwdmynn7v
— nuco.cloud (@nucocloud) February 19, 2024The Artificial Intelligence Commission is set to receive $22,048 annually within the same timeframe, and the Virginia Autism Advisory Council is earmarked to receive $12,090 annually to distribute funds across state commissions.
Established during the 2024 legislative session, the Blockchain and Cryptocurrency Commission, now part of the legislative branch, comprises 15 members. The commission aims to conduct studies and offer broader recommendations on blockchain technology — the backbone of cryptocurrencies — and digital assets.
The designated funds are primarily intended to cover operational expenses, including meeting travel costs.
