Rhode Island Blockchain Act Seeks Regulatory Clarity for Crypto, Representative Place Ex…

Although Rhode Island’s recent Blockchain Act does not explicitly reference cryptocurrencies, the bill aims to provide regulatory clarity for them.

“If you look at the legislation, it doesn’t necessarily mention crypto specifically, but when it talks about complex financial instruments and things of that nature, that’s what it’s referring to — it’s referring to cryptocurrency,” Rhode Island state representative David Place told Cointelegraph in an interview.

The bill looks like a blockchain-only bill, but also includes crypto

Rhode Island state representatives David Place and Blake Filippi sponsored a new bill on March 11, called the Rhode Island Economic Growth Blockchain Act. Complete with a state regulatory sandbox, the filing pointed toward blockchain and other emerging technologies as a way of keeping up with the times.

“That sandbox concept is for the cryptocurrencies,” Place said.

Speaking on the various new types of cryptocurrencies coming into existence,…