Drake Leads on Cryptocurrency Policy with Study Committee Appointment

Senator Dora Drake has been appointed to the Wisconsin Legislative Council Study Committee on Cryptocurrency. The bipartisan committee will examine how cryptocurrency staking works and determine if state laws should cover it, potentially introducing new rules in the process.

In a statement, Senator Drake emphasized her goal of maximizing economic and educational opportunities while protecting Wisconsinites from financial risks. She expressed enthusiasm for working with her legislative colleagues to achieve this objective.

This appointment comes after Senator Drake introduced the WIN Bill (Senate Bill 951), which would establish the Office of Financial Technology Innovation in the Department of Financial Institutions. The office's purpose is to provide consumer protection, as well as educational and innovation opportunities for Wisconsinites. On February 25th, the bill received a public hearing in the Senate Committee on Utilities, Technology, and Tourism.