The newly established Virginia commissions on artificial intelligence and cryptocurrencies would each get $22,048 and $17,192 per year from the general fund, respectively, according to the plan.
A working committee of the Virginia Senate has proposed allocating $39,240 per year to two recently established panels on crypto and artificial intelligence (AI).
Over $23.6 million was distributed to several legislative agencies in a proposal put up by the Subcommittee on General Government of the Senate Finance and Appropriations Committee on February 18. A total of $17,192 was allocated for the Blockchain and Cryptocurrency Commission in 2025 and 2026. This commission was founded in January 2024.
The Committee on Communications, Technology, and Innovation (formerly known as the Artificial Intelligence Commission) received $22,048 over the same time period.
It is the objective of the Blockchain and Cryptocurrency Commission to research the state’s blockchain and cryptocurrency landscape, provide policy suggestions, and encourage their growth. Seven lawmakers and eight non-lawmakers will make up its fifteen-person membership, which must be filled “no later than 45 days following the implementation date of this act.”
Also, the goal of the Artificial Intelligence Commission is to prevent illegal acts by developing and enforcing regulations that will restrict AI’s usage.
Jan. 9 saw the introduction of the bill to create the blockchain and crypto commission and change the Virginia Code. It passed the Senate by a unanimous vote on February 1.
Virginia has just passed crypto mining legislation that benefits both people and corporations, in addition to creating new legislative committees focused on AI and cryptocurrency ecosystems.
In an effort to remove miners from the need to get money transmitter licenses, Senator Saddam Azlan Salim put out Senate Bill No. 339 on January 9th. In addition, the measure forbids industrial zones from enacting laws that target mining in particular:
According to the definitions in § 38 15.2-2288.9, “no license under this chapter shall be needed of any individual engaged in in-home digital asset 37 mining, digital asset mining, or digital asset mining commercial operations.”
Although businesses that provide mining or staking services are not considered “financial investments” according to the law, they nonetheless need to submit a notification in order to be excluded.
Individuals would be able to deduct up to $200 in transactions from their taxable net capital gains, according to the proposed law. Profits made by buying products and services using digital assets are not taxable. So, the measure encourages regular cryptocurrency transactions by offering tax breaks.
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