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NY S09013
Bill
Status
6/13/2018
Primary Sponsor
Elaine Phillips
Click for details
AI Summary
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Establishes a nine-member New York State Digital Currency Task Force to study the effects of cryptocurrencies and digital currencies on the state.
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Task force membership includes three members appointed by the governor, two by the Senate temporary president, two by the Assembly speaker, and one each by the Senate and Assembly minority leaders.
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Task force must submit a comprehensive report by December 15, 2020 covering digital currency industries in New York, number of currencies traded, exchanges operating in the state, tax impacts, energy consumption of mining operations, market transparency, and regulatory approaches used by other jurisdictions.
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Report shall include legislative and regulatory recommendations to increase transparency, enhance consumer protections, and address long-term cryptocurrency impacts.
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Act takes effect immediately and automatically expires December 15, 2020.
Legislative Description
Creates the digital currency task force to provide the governor and the legislature with information on the potential effects of the widespread implementation of digital currencies on financial markets in the state.
Last Action
SUBSTITUTED BY A8783B
6/19/2018