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Found 4 matching documents.
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · February 19, 2026
Senate Banking and Financial Institutions Committee, February 19, 2026
Summary by Georgia Commons (AI-written): The committee unanimously approved HB 945, covering suspected financial exploitation, cryptocurrency kiosks and litigation financing oversight, and SB 441, requiring state approval of certain local government investment pools. The committee also held a hearing on SB 424, which would recognize gold and silver as legal tender and establish oversight for storage and electronic payments. Supporters described it as a way to protect purchasing power and make gold easier to use. Opponents questioned the need for state involvement and raised concerns about competition, taxpayer risk and consumer confusion. No vote was taken on that proposal. The chair planned further consideration and a vote on Tuesday.
And then we would have the electronic side, which is the ability to transact. They're just like today, you can buy fractional shares of stocks, things of that nature. You can even have debit cards tied to stock accounts, if you will. This is doing just gold and silver, trying to line up with the Constitution and using the Constitution and our state rights...
Yes, it will. Under current scenario, yes. Because that is an account that's in your- Federal taxes? Federal and state taxes. Okay, so if we do this, then y- you wouldn't have to pay federal taxes? State tax. Federal tax. State. We would have to pay federal still under current scenario. It would be long-term capital gains, depending upon how long you kept...
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · February 24, 2026
Senate Banking and Financial Institutions Committee, February 24, 2026
Summary by Georgia Commons (AI-written): The committee continued its hearing on SB 424, which the sponsor described as allowing gold and silver to be used as money through regulated storage and electronic payments. Members questioned fees, fraud protection, investment risks, lost tax revenue and the need for state involvement. Witnesses supported recognizing gold and silver as legal tender but differed over the proposed depository system and the state's role. The committee voted 5–3 to advance the bill to Rules.
Sure. And I see this as a way to spend money as well. It's, it's, it's liquid, and there's not many assets like that that I see, um, that are, that are like that, even in a mutual fund, and you understand that too. Okay. Appreciate that. Thank you, sir. Okay. Uh, we don't have anything. We got a couple of Zoom folks that wanna come in here. We can't, we had...
Uh, I think it, uh, it would be involved in the private market. There's no need for it. There's no access problem for people. Uh, the private market solutions exist. As well as when the state tends to get involved in private markets, it tends to become the provider of choice, uh, thereby actually limiting competition and potentially limiting, uh, uh, actual...
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · March 24, 2026
Senate Banking and Financial Institutions Committee, March 24, 2026
Summary by Georgia Commons (AI-written): The committee discussed HB 1272, which would establish state oversight of payment stablecoin issuers. Members asked about security, financial backing, issuer approval, transaction speed and borrowing against stablecoins. The sponsor said the proposal closely follows the federal GENIUS Act and would help Georgia lead other states in setting rules. No audience members testified. The committee approved a do-pass motion and sent the bill forward to Rules. No vote count was stated.
Okay, so a couple of things, if you don't mind, Senator Dickerson. Uh, first and foremost, again, I cannot stress enough from a fraudulent standpoint, there is no speculative nature to the stable coin. There would be no reason to short or long this, per se, currency. In other words, you, there is a reason to short or long a Bitcoin, for instance, or...
Right. Um, not only are we background-checked, not only are we basically looked at from a solvency standpoint, making sure we have the mechanism for the dedicated account, making sure we're not levering it, hypothecating it, et cetera. In other words, we have opened ourselves up to the scrutiny, and rightfully so, of the framework of the Department of...
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · March 17, 2026
Senate Banking and Financial Institutions Committee, March 17, 2026
Summary by Georgia Commons (AI-written): The committee considered four bills. Members voted on a recommendation to pass HB 948, which would add information about claiming leftover foreclosure-sale money to foreclosure notices, but the chair did not explicitly announce the result. The committee unanimously recommended passing HB 1024, which would increase the home equity people may keep in bankruptcy and adjust the limits for inflation. Members also approved HB 1134 with an amendment after discussing personal belongings in repossessed vehicles and protections against wrongful repossession. The committee held a hearing only on HB 1272, concerning state licensing and oversight of payment stablecoin issuers. Members asked about reserves, payments, privacy, revenue and theft risks. The chair said that bill would return to a later meeting, with no date announced.
I don't, but we got, uh, uh, Jeff's here. Yeah, Jeff Ledford with the Real- Jeff, you wanna take the podium for a minute? Sit here with Beth. She's over here. Okay. Thank you. Sure. Do you want me here or ... It don't matter. Yeah, I was just- Where you wanna be. Here, sit right there. I'm gonna change everyone once, once I- Proud to sit next to one of, uh,...
Well, they have to be held for a period of time by the trust account where the funds are, where the foreclosure took place and the sale took place. So they have to hold them for a period of time. Um, going back to line 17, this might be a little bit more descriptive, um, and it's under line, "Notice of the mortgagor's right to initiate a claim for any...
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