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Virginia lawmakers pass encryption-friendly bill, establishing encryption working group

Lawmakers in Virginia passed Bill 339 by a majority vote of 97, which proposes the establishment of a working group to specifically study the entire cryptocurrency ecosystem and make recommendations to promote the expansion of this technology. The upcoming cryptocurrency working group will consist of 13 members, including 5 from the Senate, 5 from the House of Representatives, 2 non-legislative civilian members from the blockchain industry, and 1 non-legislative civilian representative from local government. The deadline is November 1, 2024. Recently, the state also introduced cryptocurrency mining legislation aimed at exempting cryptocurrency miners from the requirement to obtain a currency transfer license.

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