As the tech world watches, Milwaukee is making a move that could ripple through the financial tech landscape. Today, the city’s Judiciary and Legislation Committee showed unanimous support for file #250066, a resolution to back the Wisconsin Innovation Network (WIN) Bill, aimed squarely at the burgeoning cryptocurrency market.
The proposal, stemming from the collaborative efforts of Senator Dora Drake and Representative Amaad Rivera-Wagner, is a bid to boost tech innovation by creating an Office of Financial Technology Innovation under the Department of Financial Institutions, simultaneously kickstarting a crypto-focused pilot project. Alderman Mark Chambers, Jr., who introduced the resolution, marked the occasion by underscoring the duality of digital currencies; they bear the seeds of progress yet sow risks that necessitate informed navigation, Alderman Chambers stated his gratitude towards Senator Drake and Representative Rivera-Wagner for this legislation that could serve as an educational beacon on cryptocurrency’s merits and dangers.
The legislature’s eagerness can’t be mistaken, with the full Common Council poised to deliberate on the matter during its session slated for June 24.
