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NY S08136
Bill
Status
11/22/2024
Primary Sponsor
James Sanders
Click for details
AI Summary
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Establishes a 17-member New York State Cryptocurrency and Blockchain Study Task Force, composed of the superintendent of the Department of Financial Services, commissioner of the Department of Environmental Conservation, comptroller, attorney general, representatives from financial services and environmental conservation organizations, a university faculty member with economics expertise, and members appointed by the governor, senate president, and assembly speaker.
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Task force members shall be appointed no later than 90 days after the act's effective date and shall receive no compensation but will be reimbursed for actual and necessary expenses.
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Task force must submit a comprehensive report to the governor and legislature by December 15, 2026, addressing the digital currency and blockchain industries in New York, market trading volumes, tax impacts, energy consumption and environmental effects of coin mining, marketplace transparency, regulatory approaches in other jurisdictions, and legislative recommendations for consumer protection and security.
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The 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
VETOED MEMO.67
11/22/2024