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NY A09275
Bill
Status
11/23/2022
Primary Sponsor
Clyde Vanel
Click for details
AI Summary
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Establishes a 16-member New York state cryptocurrency and blockchain study task force to examine the effects of widespread cryptocurrency and digital currency use in the state.
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Task force membership includes the superintendent of financial services, commissioner of environmental conservation, comptroller, and representatives from financial services, environmental organizations, and academia, with additional members appointed by the temporary president of the senate and speaker of the assembly.
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Requires the task force to submit a report by December 15, 2024, analyzing digital currency industries in New York, market share data, energy consumption and environmental impacts of mining operations, tax revenue effects, marketplace transparency, and other state and federal regulatory approaches.
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Directs the task force to provide legislative and regulatory recommendations to increase transparency and security, enhance consumer protections, and address long-term cryptocurrency impacts.
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Act expires December 15, 2024, upon which all provisions are automatically repealed.
Legislative Description
Establishes the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.
Last Action
tabled
11/23/2022