Two bills related to crypto were introduced to the Massachusetts House of Representatives on Jan. 19. The first related to a new “special commission on blockchain” and the second on “protecting consumers in cryptocurrency exchanges.”

Given the recent publicity received through the FTX collapse, it is unsurprising that officials would look to add extra consumer protection. The creation of a ‘special commission’ on blockchain could also be a bullish indicator for the citizens of Massachusetts, providing the commission receives adequate information to analyze.

Special Commission

Massachusetts Representatives Josh S. Cutler and Kate Lipper-Garabedian submitted the bill entitled “An Act establishing a special commission on blockchain and cryptocurrency” on Jan. 19 to create a steering group within the Massachusetts House to look at blockchain technology.

“For the purposes of making an investigation relative to blockchain technology to develop a master plan of recommendations for fostering the appropriate expansion of blockchain technology in the Commonwealth.”

The commission is planned to contain 25 members, including the House Speaker, the minority leader, and the president of the Senate, suggesting, if passed, the commission is to be taken seriously.

The commission is designed to focus on several key areas

• The feasibility, validity, admissibility, and risks related to using blockchain technology for government usage…