Digital Asset Study Proposed by Virginia Senator

A Virginia state senator has filed for a legislation that will require an impact study on digital assets. Glen Sturtevant, has created a new bill, that if approved will measure the growth of digital currencies and how they impact the citizens of Virginia. The bill has already been forwarded to the State Senate’s Rules Committee for appraisal. The focus of the study will be to determine whether the state should establish laws that will protect Virginians against any side effects of cryptocurrency transactions. As of now, it is not known which policies and procedures Virginia will have to abide by. The State Corporation Commission is the primary body that overlooks state-based compensations with businesses, and has the power to approve or decline these businesses. We believe that they have the capability to tighten and adjust statutes in Virginia. Virginia has a strong following for cryptocurrencies. It was reported that in Virginia Beach, officials have donated funds for a Bitcoin mine in order to create jobs. As the state motto says, “Virginia is for Bitcoin Lovers”.

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