Virginia Senate Proposes $39K Annual Fund for Crypto and AI Commissions

    Virginia proposes a yearly fund of $39K for commissions on blockchain and cryptocurrency, and artificial intelligence. Explore the allocation breakdown and objectives of these strategic initiatives.

    • Virginia Senate Proposal: Allocates $39,240 yearly for Blockchain and Cryptocurrency Commission and Artificial Intelligence Commission.
    • Funds Breakdown: $17,192 for Blockchain and Cryptocurrency Commission, $22,048 for Artificial Intelligence Commission.
    • Commission Objectives: Blockchain and Cryptocurrency Commission to focus on blockchain and crypto growth; Artificial Intelligence Commission to develop policies limiting AI’s unlawful use.

    Virginia’s Senate Finance and Appropriations Committee has proposed a substantial yearly fund of $39,240 for the newly established commissions on blockchain and cryptocurrency, as well as artificial intelligence (AI).

    The Blockchain and Cryptocurrency Commission, formed in January 2024, is set to receive $17,192 annually for 2025 and 2026, with a mandate to explore and recommend strategies for blockchain and crypto expansion within the state. Simultaneously, the Artificial Intelligence Commission, known as the Committee on Communications, Technology, and Innovation, is allocated $22,048 for the same period. This commission aims to formulate policies to curb the unlawful use of AI.

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