Rhode Island accelerates its digital push with two major blockchain bills

DecentralizedElder · 2026-02-04T19:21:38+00:00

Rhode Island aims to attract digital asset innovators by reviving Senate Bill S 2198 to establish a commission for blockchain and cryptocurrency study. The bill seeks to balance technological development with consumer protection. Additionally, Senate Bill S 2021 proposes a temporary tax exemption on small Bitcoin transactions to promote cryptocurrency use locally, showcasing Rhode Island's strategy to support digital asset regulation and attract blockchain businesses.

DecentralizedElder

2026-02-04 19:21:38

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Rhode Island Announces Its Ambitions in the Digital Asset Sector. After reintroducing Senate Bill S 2198, the state aims to establish a commission dedicated to in-depth study of blockchain technology and cryptocurrencies. This initiative reflects a clear strategy: to transform Rhode Island into an attractive destination for innovators in the decentralized sector.

An Expert Commission to Balance Innovation and Security

Bill S 2198 proposes the creation of a commission whose mission would be to reconcile two major issues: encouraging technological development while protecting local consumers. According to information relayed by NS3.AI, this balanced approach aims to create a favorable framework without compromising citizens’ security. Rhode Island recognizes that adopting blockchain requires a thorough understanding of the risks and opportunities.

Bitcoin Exempted from Certain Taxes to Boost the Local Economy

Meanwhile, Senate Bill S2021 proposes an incentive tax measure: a temporary exemption on small Bitcoin transactions. This exemption aims to normalize the daily use of cryptocurrencies in the local economy by reducing fiscal friction for ordinary users. The goal is clear: to make Bitcoin a regular payment method for residents.

Rhode Island Seeks a Strategic Positioning

These two legislative initiatives demonstrate Rhode Island’s desire to position itself as a progressive state in digital asset regulation. Rather than blocking innovation, the state chooses to regulate and encourage the adoption of cryptocurrencies. This strategy could attract blockchain companies seeking a favorable regulatory environment, thereby strengthening Rhode Island’s technological ecosystem.

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