A Virginia Senate Committee has proposed funding two newly formed Commissions on cryptocurrencycurrency and artificial intelligence (AI) with a total annual budget of $39,240.
A proposal dated February 18 from the Senate Finance and Appropriations Committee Subcommittee in Virginia states that more than $23.6 million is allocated to different legislative entities.
The Blockchain and Cryptocurrency Commission (SB 439), which was founded in January 2024, is scheduled to receive a proposed general fund of $17,192 for the years 2025 and 2026 out of these appropriations.
Comparably, the Committee on Communications, Technology, and Innovation is now reviewing SB 487, the Artificial Intelligence Commission, which is scheduled to earn $22,048 for the same term.
There will be 15 members of the Blockchain and Cryptocurrency Commission, which was established to research and offer recommendations on blockchain technology and virtual currencies. Within forty-five days after the act’s passage, seven members of the legislature and eight members from other sectors will be selected.
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