NY A00213

Establishes a task force to study the feasibility and impact of New York issuing its own state cryptocurrency

Task force must examine steps needed to create a state cryptocurrency, including implications for SEC and CFTC jurisdiction, monetary policy, financial stability, and local/state/federal taxation

Task force will research measures taken by other jurisdictions, central banks, states, and countries regarding cryptocurrency issuance

Nine-member task force composed of appointees from the governor (2), senate president (2), assembly speaker (2), Department of Financial Services superintendent (2), and Office of Information Technology Services director (1)

Report on findings due to the governor and legislature within one year of the act's effective date; members serve without compensation but receive reimbursement for expenses