PUBLIC NOTICES & HEARINGS

BEFORE THE COMMISSIONER OF SECURITIES AND INSURANCE

OFFICE OF THE MONTANA STATE AUDITOR

TO:  All Concerned Persons

1. On February 12, 2025, the Commissioner of Securities and Insurance, Office of the Montana State Auditor (“Commissioner” or “CSI”), gave Notice that it was seeking the public’s comments regarding digital assets and possible regulation of the same through an Informal Public Hearing.  A copy of the initial notice is available online at CSI’s website, under Public Notices, at www.csimt.gov
2. The Notice, at paragraph 4, also invited the submission of written comments and set the initial deadline of Friday, February 28, 2025 at 5:00 p.m.  CSI has determined to extend that deadline as set forth below. 
3. Interested persons may submit written data, views, or arguments concerning the matters set forth in the Notice to: Laura Shirtliff, Creative, Digital, & Outreach Director, 840 Helena Avenue, Helena, Montana, 59601; telephone (406) 444-0903 or 1-800-332-6148; fax (406) 444-3413; TDD (406) 444-3246; or e-mail csi@mt.gov.  Written submissions must be received no later than 5:00 p.m., March 14, 2025. 

BEFORE THE COMMISSIONER OF SECURITIES AND INSURANCE
OFFICE OF THE MONTANA STATE AUDITOR

In the matter of Soliciting Public Comments Regarding Digital Assets

NOTICE OF INFORMAL PUBLIC HEARING
TO: All Interested Persons

1. On February 26, 2025, at 9:00 a.m., the Commissioner of Securities and Insurance, Office of the Montana State Auditor (“Commissioner” or “CSI”), will hold a public hearing in the Basement Conference Room of CSI at 840 Helena Avenue, Helena, Montana, to consider the public’s comments regarding digital assets and possible regulation of such digital assets.

2. CSI will make reasonable accommodations for persons with disabilities who wish to participate in this rulemaking process or need an alternative accessible format of this notice. If you require an accommodation, contact CSI no later than 5:00 p.m. on February 24, 2024, to advise us of the nature of the accommodation that you need. Please contact Laura Shirtliff, Creative and Digital Services Director, 840 Helena Avenue, Helena, Montana, 59601; telephone (406) 444-2040 or 1-800-332-6148; fax (406) 444-3413; TDD (406) 444-3246; or e-mail csi@mt.gov.

3. No rule is to be adopted at this time. This is an informal conference intended as a means of soliciting and obtaining the viewpoints and advice of interested persons with respect to contemplated rulemaking. § 2-4-304, MCA.

REASON: The Commissioner is the statewide elected official responsible for administering the Securities Act of Montana. As part of his duties, the Commissioner is responsible for the regulation of securities in Montana, including encouraging capital formation while also safeguarding Montana investors through mechanisms such as registration and disclosure, as well as antifraud enforcement powers. Digital assets may provide new opportunities for Montana investors and businesses, and the Commissioner invites the public and interested parties to submit their comments regarding digital assets and digital asset regulation.

The market for digital assets has rapidly expanded in recent years, and the unsettled regulatory landscape at the Federal level has left several questions open. Some bad actors have also exploited the market expansion and the public’s interest in digital assets in fraudulent ways. The public’s perceptions, experiences, and knowledge of digital assets may aid the Commissioner in determining whether rules or definitions regarding digital assets may be helpful for the people of Montana. The Commissioner invites comments, with accompanying rationale, as to why digital assets should or should not be regulated, what challenges digital assets pose, and how Montanans would benefit from the opportunities digital assets provide.

4. Interested persons may submit their data, views, or arguments either orally or in writing at the hearing. Written data, views, or arguments may also be submitted to: Laura Shirtliff, Creative and Digital Services Director, 840 Helena Avenue, Helena, Montana, 59601; telephone (406) 444-0903 or 1-800-332-6148; fax (406) 444-3413; TDD (406) 444-3246; or e-mail csi@mt.gov, and must be received no later than 5:00 p.m., February 28, 2025.

5. The Commissioner or a duly appointed presiding officer shall preside over and conduct this informal hearing.

6. CSI maintains a list of interested persons who wish to receive notices of rulemaking actions proposed by this agency. Persons who wish to have their name added to the list must make a written request that includes the name, e-mail, and mailing address of the person to receive notices and specifies for which program the person wishes to receive notices. Notices will be sent by e-mail unless a mailing preference is noted in the request. Such written request may be mailed or delivered to the contact person in paragraph 4 or by completing a request form at any hearing held by CSI. No formal rulemaking is contemplated at this time.

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