The Blockchain and Cryptocurrency Commission has been granted $17,192 annually by Virginia’s Subcommittee on General Government. This funding will support the committee’s operations and reimburse travel costs. Recently, legislation established the Blockchain and Cryptocurrency Commission to provide recommendations on blockchain and cryptocurrency technology.
In its report released on Sunday, Virginia’s Subcommittee on General Government suggested giving the Blockchain and Cryptocurrency Commission a meagre $17,192 annually.
The projected funding from the U.S. states are slightly less than the monies set aside for the Artificial Intelligence Commission, which will receive $22,048 year during the same time, and will be allocated in both 2025 and 2026. But over the course of the two years, the Virginia Autism Advisory Council will only earn $12,090 annually.
According to a 2024 session report, Virginia just formed the Blockchain and Cryptocurrency Commission under the state department’s legislative arm. Composed of fifteen members, the committee will research and offer recommendations about the blockchain technology that powers cryptocurrencies and digital assets in general. According to the session report, the annual spending of $17,192 is intended to cover meeting-related costs, such as travel expenses.