Virginia Proposes a Mere $17,192 a Year for New Blockchain and Cryptocurrency Commission

The money is set to cover the costs associated with having meetings including travel expenses.

AccessTimeIconFeb 19, 2024 at 9:56 a.m. UTC
Updated Mar 8, 2024 at 9:44 p.m. UTC
  • Virginia's Subcommittee on General Government has allocated $17,192 a year to the Blockchain and Cryptocurrency Commission and the money will help run the committee and cover travel expenses.
  • The Blockchain and Cryptocurrency Commission was recently legislated to make recommendations related to blockchain technology and crypto.

Virginia's Subcommittee on General Government proposed allocating a humble $17,192 a year to the Blockchain and Cryptocurrency Commission, according to its report on Sunday.

The U.S. states proposed funds will be allocated both in 2025 and 2026 and are slightly less than what is being set aside for the Artificial Intelligence Commission, which is getting $22,048 a year over the same period. However, the Virginia Autism Advisory Council will receive only $12,090 yearly over the two years.

Virginia recently established the Blockchain and Cryptocurrency Commission in the legislative branch of the state department, according to a 2024 session report. The commission will have 15 members who will study and make recommendations for the blockchain technology that runs cryptocurrencies and the digital assets themselves.

In the session report - the yearly expenditure was estimated to be $17,192, which is meant to cover the costs associated with having meetings, including travel expenses.

Edited by Omkar Godbole.


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Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.