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NY A03279
Bill
Status
12/5/2025
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 within the Department of Financial Services to examine the effects of widespread cryptocurrency and blockchain technology use in the state
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Task force members include appointees from the governor (6), senate temporary president (4), assembly speaker (4), plus the state comptroller and attorney general or their designees, with representation from financial services, environmental conservation, academia, and cryptocurrency industry groups
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Requires the task force to submit a report by December 15, 2027 covering topics including the state of the crypto industry in New York, number of exchanges operating, energy consumption and environmental impact of mining operations, and effects on state and local tax receipts
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Report must also address market transparency, potential for manipulation and illegal activities, review of regulations in other jurisdictions, and provide legislative recommendations for consumer protection and security
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Members must be appointed within 90 days of the act taking effect and serve without compensation; the act expires and is repealed on December 15, 2027
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
tabled
12/5/2025