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NY A00954
Bill
Status
1/11/2023
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 assess the effects of cryptocurrencies, digital currencies, and blockchain technology on the state.
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Task force composition includes the Superintendent of Financial Services, Commissioner of Environmental Conservation, state Comptroller, representatives from financial services and environmental organizations, an economics faculty member, and members appointed by the Senate Temporary President and Assembly Speaker.
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Task force members shall be appointed within 90 days of the act's effective date and receive no compensation, though actual and necessary expenses shall be reimbursed.
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By December 15, 2025, the task force must submit a comprehensive report to state leadership covering cryptocurrency trading volumes, exchange operations, tax impacts, energy consumption of mining operations, environmental impacts, marketplace transparency, regulatory review of other jurisdictions, and legislative recommendations regarding consumer protection and cryptocurrency regulation.
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The act takes effect immediately and automatically expires December 15, 2025.
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
substituted by s1891
5/30/2023