The Virginia Senate Committee has recommended funding for two new commissions focusing on artificial intelligence and cryptocurrency, with a total yearly fund allocation of $39,240.

The Blockchain and Cryptocurrency Commission will receive $17,192, while the Artificial Intelligence Commission will get $22,048 for the fiscal years 2025 and 2026.

These commissions will explore and provide guidance on the adoption of blockchain technology, digital assets, and AI, positioning Virginia as a leader in technological innovation.

Legislation has been introduced to protect digital asset mining in Virginia, highlighting the state's efforts to create a favorable environment for cryptocurrency operations.

Virginia is enabling traditional banks to offer digital currency custody services, showing a commitment to integrating digital currencies into the mainstream financial sector.

Overall, Virginia is taking significant steps towards becoming a hub for technological advancement and digital economy growth.