RI H7413

Creates a 13-member Rhode Island Blockchain Technology Advisory Council with members appointed by the governor and Rhode Island Commerce Corporation to promote blockchain and technology innovation in the state

Establishes a "financial technology sandbox" allowing companies to test innovative financial products and services for up to 24 months (with possible 12-month extension) with waivers of certain regulatory requirements, subject to a $500 application fee and consumer protection bond of at least $10,000

Authorizes the creation of "special purpose depository institutions" — non-lending banks that can hold deposits for blockchain and technology businesses, requiring minimum capital stock of $5 million and 100% liquid asset reserves against deposits

Requires special purpose depository institutions to accept only business entity depositors (not individuals) with minimum deposits of $5,000 who are engaged in lawful businesses and can demonstrate compliance with anti-money laundering requirements

Designates 25 census tracts across 15 Rhode Island municipalities as opportunity zones for blockchain-related redevelopment investment, and requires sandbox participants to maintain records for at least 5 years and remain subject to criminal and consumer protection laws