Vermont Approves Blockchain Impact Study

The governor of Vermont has signed a bill that mandates a study on how blockchain tech will impact the state.

AccessTimeIconJun 13, 2017 at 4:35 p.m. UTC
Updated Sep 11, 2021 at 1:26 p.m. UTC

The governor of Vermont has signed a bill that mandates a study on how blockchain tech will impact the state's job market and ability to generate revenue.

The bill approves a study, due be delivered by 30th November, that will include "findings and recommendations on the potential opportunities and risks presented by developments in financial technology" including blockchain. Vermont governor Phil Scott signed the measure into law on 8th June.

State lawmakers finalized the measure in May, coming months after it was first introduced in March. The bill's authors struck a proactive note in the text, suggesting that the tech could lead to new opportunities for Vermont.

They wrote:

"The existing Vermont legislation on blockchain technology and other aspects of e-finance have given Vermont the potential for leadership in this new era of innovation as well, with the possibility of expanded economic activity in the financial technology sector that would provide opportunities for employment, tax revenues, and other benefits."

The study is set to be prepared by a working group that includes representatives from the Vermont Attorney General’s Office, the Department of Financial Regulation and the Vermont Law School’s Center for Legal Innovation.

Vermont State House image via Shutterstock

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