Emerging Technologies Caucus

What’s happening? Pennsylvania has a  Emerging Technologies Caucus that is introducing a blockchain bill that would allow businesses in Pennsylvania to develop blockchain-based products

Why is this important? Your bill drafting guides & talking points:

• H.B. 1370 “would establish a two-year financial technology sandbox program, which would allow the Department of Banking and Securities to work with the Department of State to waive specific laws and regulations that do not currently permit blockchain-focused financial technologies to be offered to consumers. The approved businesses would be required to notify the consumer that the product is part of a sandbox program and is still under development. “
• H.R. 121 “would establish a blockchain working group tasked to create a master plan for growth of the blockchain industry in Pennsylvania, including developing appropriate recommendations for new laws and regulations.”

How will this be important? Blockchain is a grey area in the law

PA House | Napoleon Nelson introduces blockchain technology bill package