Digital Asset and Blockchain Technology Task Force - Establishment, the official text

WES MOORE, Governor                                         Ch. 548

Chapter 548

                   (House Bill 470)

AN ACT concerning

Digital Asset and Blockchain Technology Task Force – Establishment

FOR the purpose of establishing the Digital Asset and Blockchain Technology Task Force
         to study and make recommendations regarding the use and regulation of blockchain
         technology and cryptocurrency in the State; and generally relating to the Digital
         Asset and Blockchain Technology Task Force.

         SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That:

(a) There is a Digital Asset and Blockchain Technology Task Force.

(b) The Task Force consists of the following members:

                  (1) two members of the Senate of Maryland, appointed by the President of
the Senate;

                  (2) two members of the House of Delegates, appointed by the Speaker of
the House;

             (3) the Comptroller, or the Comptroller’s designee;

             (4) the State Treasurer, or the State Treasurer’s designee;

             (4) (5) the Secretary of Commerce, or the Secretary’s designee;

             (6) the Secretary of Information Technology, or the Secretary’s designee;

             (5) (7) the Secretary of Labor, or the Secretary’s designee; and

             (8) the Securities Commissioner, or the Commissioner’s designee; and

             (6) (9) the following members, appointed by the Governor:

             (i) one representative two representatives of the financial services

industry;

                           (ii) one faculty member of an institution of higher education in the
State who specializes in economics; and

             (iii) two representatives of the Maryland Blockchain Association.
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Ch. 548  2026 LAWS OF MARYLAND

         (c) The members of the Task Force shall elect the chair of the Task Force.

         (d) The Office of Financial Regulation in the Maryland Department of Labor shall
provide staff for the Task Force.

         (e) A member of the Task Force:

                  (1) may not receive compensation as a member of the Task Force; but

                  (2) is entitled to reimbursement for expenses under the Standard State
Travel Regulations, as provided in the State budget.

         (f) The Task Force shall:

                  (1) conduct an analysis of the expansion of blockchain technology and
cryptocurrency in the State that includes:

                           (i) a discussion of the overall concepts of blockchain technology and
cryptocurrency in the State;

                           (ii) an examination of the associated risks, including privacy risks,
and the benefits of using blockchain technology and cryptocurrency in State and local
government and in private businesses in the State;

                           (iii) an assessment of the impact of the cryptocurrency industry on
the State, including its effect on State revenues and energy consumption; and

                           (iv) any other topic, as determined by the Task Force, related to
blockchain technology or cryptocurrency; and

                  (2) make recommendations regarding the use and regulation of blockchain
technology and cryptocurrency in the State.

         (g) On or before October 1, 2027, the Task Force shall report its findings and
recommendations to the Governor and, in accordance with § 2–1257 of the State
Government Article, the General Assembly, the Senate Finance Committee, and the House
Economic Matters Committee.

         SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July
1, 2026. It shall remain effective for a period of 2 years and, at the end of June 30, 2028,
this Act, with no further action required by the General Assembly, shall be abrogated and
of no further force and effect.

Approved by the Governor, May 12, 2026.

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