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NY A09507
Bill
Status
3/20/2024
Primary Sponsor
Clyde Vanel
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AI Summary
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Establishes a 17-member New York State Cryptocurrency and Blockchain Study Task Force to assess the effects of cryptocurrencies and blockchain technology in the state.
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Task force membership includes the superintendent of financial services, commissioner of environmental conservation, comptroller, attorney general, plus appointments by the governor, senate president, and assembly speaker, with at least five members having relevant industry or academic expertise.
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Task force must submit a comprehensive report to the governor and legislature by December 15, 2026 covering industry review, market data, tax impacts, energy consumption, environmental impacts, marketplace transparency, and recommendations for legislative or regulatory action.
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Members receive no compensation but are reimbursed for actual and necessary expenses incurred in performing their duties.
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Act takes effect immediately and automatically expires on December 15, 2026.
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 s8136a
5/30/2024