MD HB470

Establishes a Digital Asset and Blockchain Technology Task Force to study and recommend regulations for blockchain technology and cryptocurrency in Maryland

Task Force membership includes 2 Senators, 2 House Delegates, the Comptroller, Secretaries of Commerce and Labor, plus Governor-appointed representatives from financial services, higher education economics faculty, and the Maryland Blockchain Association

Office of Financial Regulation in the Maryland Department of Labor will provide staff support; members receive no compensation but are entitled to expense reimbursement

Task Force must analyze blockchain expansion including risks, benefits, privacy concerns, impact on State revenues, and energy consumption, then develop regulatory recommendations

Final report due to the Governor and General Assembly by October 1, 2027; the Act takes effect July 1, 2026 and automatically sunsets on June 30, 2028