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ND HCR3024

Concurrent Resolution

Official Source

Status

Engrossed

3/3/2021

Primary Sponsor

Nathan Toman

Click for details

Origin

House of Representatives

67th Legislative Assembly

AI Summary

  • Direct the Legislative Management to study the feasibility and desirability of regulating special purpose depository institutions and virtual currency business entities in North Dakota
  • Address the lack of uniformity among states regarding how virtual currency and cryptocurrency businesses are regulated
  • Balance consumer protection with innovation by avoiding excessive regulatory burdens on virtual currency businesses
  • Enable special purpose depository institutions to provide banking services to virtual currency companies unable to access Federal Deposit Insurance Corporation-insured banking due to their business activities
  • Require the Legislative Management to report findings, recommendations, and any necessary legislation to the Sixty-eighth Legislative Assembly

Legislative Description

A concurrent resolution directing the Legislative Management to consider studying the feasibility and desirability of regulating special purpose depository institutions and regulating other entities engaged in virtual currency business activities.

Last Action

Second reading, failed to adopt

4/6/2021

Committee Referrals

Industry, Business, and Labor1/28/2021

Full Bill Text

No bill text available