The Senate Commerce Committee on Tuesday considered House Bill 639, an act related to the use of and disputes over blockchain and digital currencies. The committee adopted an amendment sponsored by the Secretary of State and the Treasurer to tighten the bill's definition of a "digital asset exchange," then debated broader concerns about local control, environmental and community impacts, and consumer fraud.

Senator McHugh offered the amendment (described in the record as 20251909s) and urged members to support it as an improvement to the bill. Several members voiced strong constituent concerns about loss of local control, potential noise impacts and strain on electric or water systems; Senator Ricciardi and others urged more work with the sponsor. Senator Murphy supported the bill, noting the language in the draft that recognizes local noise ordinances and arguing that the state should remain open to new industry.

Concerns about consumer fraud also arose in debate. A senator cited experience in Georgia where cryptocurrency-related fraud affected thousands of investors and urged consumer protections be added before the bill advanced. After discussion, the committee considered motions in sequence; an initial vote produced an even split on one motion, and the committee later approved interim study to allow the sponsor to revise the bill and address the detailed concerns raised.

The committee recorded adoption of the technical amendment and ultimately placed the underlying bill on interim study; committee members said the extra time should allow sponsors to address constituent concerns and add consumer protections if appropriate.