The State of Rhode Island is considering a bill to ensure the economic growth of the block to encourage innovators to develop the next generation of digital products and services.
According to the bill, the state plans to create a reliable public-private partnership, which will develop a "permanent system of data storage on the blockage for industry participants.
The bill also notes that the existing legal framework is inadequate, as it was created before the technology. This has resulted in many blockaded companies being denied banking services, both in Rhode Island and throughout the US.
To make a difference, the bill proposes the creation of "a new type of financial payment and custody institution in the state with expertise in customer identification, anti-money laundering and beneficial ownership requirements". Such institutions will be able to provide custodial services to holders of both traditional and digital assets.
Another paragraph of the draft law proposes the establishment of a block-type platform to track regulated products such as hemp and its derivatives. It is envisaged to be a universal system for tracking products, payments and tax reporting aimed at protecting public safety and health.
Recall that last summer the State of Rhode Island published a request for proposals aimed at exploring the possibility of using the blockage to improve government performance. In addition, a year ago the state offered to withdraw some tokens from the Securities Act.
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