HB 2654 Summary

• Establishes the Arizona Cryptocurrency and Blockchain Commission to advise on cryptocurrency and blockchain policies, pilot programs, and initiatives designed to position Arizona as a leader in blockchain innovation.

• Commission composed of 14 members including 3 House members, 3 Senate members, a blockchain specialist, consulting firm director, financial institution manager, venture firm partner, 5 blockchain technology specialists, cryptocurrency attorney, consultant, university professor, and representatives from the Arizona Commerce Authority, Department of Revenue, Department of Insurance and Financial Institutions, and Attorney General.

• Commission appoints an "Arizona Crypto Czar" to serve as primary liaison with federal cryptocurrency initiatives, advocate for adoption, coordinate state projects, and submit progress reports to the governor and legislature.

• Commission may create subcommittees, consult with national and international blockchain experts, and must submit annual reports to the governor and legislature by December 1 detailing activities and recommending legislation.

• Commission and related statutory provisions terminate on July 1, 2028, with statutory repeal on January 1, 2029.