The Virginia Senate has passed Senate Bill No. 339, aimed at forming a specialized work group to examine cryptocurrencies, blockchain technology, and crypto mining. The bill received significant support in the Senate and subsequently passed the Virginia House of Delegates. Sponsored by Senator Saddam Azlan Salim, the bill proposes exemptions for miners from money transmitter licenses and prohibits targeted ordinances. The newly formed work group, comprising members from both legislative chambers and representatives from the blockchain industry and local government, has until November 1, 2024, to conduct studies on the crypto ecosystem and provide recommendations for fostering its growth, with a deadline for sharing these recommendations before the 2025 Regular Session of the General Assembly. (Source: Cointelegraph)