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NY S01891
Bill
Status
11/17/2023
Primary Sponsor
James Sanders
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 cryptocurrencies and digital currencies on the state.
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Task force composition includes the superintendent of financial services, commissioner of environmental conservation, state comptroller, plus representatives from financial services industry, environmental organizations, and academia, with additional members appointed by the senate president and assembly speaker.
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Task force members receive no compensation but are reimbursed for actual and necessary expenses incurred in performing their duties.
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Requires the task force to submit a comprehensive report to the governor and legislature by December 15, 2025 covering digital currency industries, market data, tax impacts, mining energy consumption, environmental effects, marketplace transparency, regulatory approaches in other jurisdictions, and legislative recommendations.
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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
VETOED MEMO.71
11/17/2023