April: Month in Review
April was a big month for the ABA. On the 9th the Alliance hosted our very first educational event at The Lab on Dexter in Montgomery. The focus was on blockchain education and was well attended by members of the legislator and executive branch of the Alabama government, as well as members from the community. Danielle Cotter, ABA Board Member and former staffer of Patrick McHenry of the US House Financial Services committee, shared insights on the state of crypto legislation at the national level. Blockchain entrepreneur and investor, Brian Krogsgard spoke on his hopefulness for the future of blockchain tech despite the challenges presented by the current lack of regulatory clarity. We were also priviledged to have Alabama Securities Commissioner, Amanda Senn join us to share about the difficulties in combating fraud in the crypto space.
The event concluded with an announcement of the ABA’s first legislative effort, a joint resolution establishing an official blockchain study commission.The Alabama Blockchain Study Commission is aimed at fostering the growth of blockchain and cryptocurrency technologies in Alabama. The commission, comprising members from various state departments and industry stakeholders, will study existing laws, technological feasibility, and the broader implications of blockchain integration across different sectors. The goal is to position Alabama as a leader in technological and economic innovation while considering the impact on the state's resources and regulations. The commission will operate until 2026, culminating in a report with recommendations for potential legislative changes.
After announcing the resolution at the event on April 9th, Senate Joint Resolution 58 was introduced in the by Greg Albrittion (R - Bay Minette). After adoption by both the House and Senate it was delivered to Gov. Ivey on April 25 and enacted on May 1. The full text of the resolution is available here.
We are ever grateful to ABA Community Member Jonathon Kohn for documenting the event with incredible photos. Follow this link to browse the entire gallery