HB 335: Blockchain and Digital Innovation Task Force

This bill passed the House 72-0 and passed the Senate 25-0.

The internet has blossomed far beyond chat rooms and personal websites into a transformative technology that few comprehend — and even fewer know how to regulate. The innovation of blockchain technology has opened the eyes of internet innovators who are turning to the next phase of connectivity, Web 3.0. As innovators continue to push digital innovation into the unknown, regulators and industry leaders must be in sync to harness technological change. 

Representative Jordan Teuscher’s bill, House Bill 335, aims to create an innovation task force where legislators, members of the executive branch, and experts in financial technology and digital innovation can study the rapidly evolving technological innovations that impact consumers and businesses. Over the course of two years, this task force will develop expertise. 

Using the expertise gained, members of this innovation task force proposed by HB 335 will be well suited to recommend the best way forward for Utah as a leader in welcoming innovation.