Bill > A03279

This bill establishes the New York State Cryptocurrency and Blockchain Study Task Force, a 16-member group composed of representatives from state government agencies, financial services, environmental conservation, academic institutions, and cryptocurrency trade organizations. The task force will conduct a comprehensive study on digital currencies and blockchain technology, examining their impact on New York's economy, environment, and regulatory landscape. By December 15, 2027, the task force is required to submit a detailed report to state leadership, covering topics such as the current state of digital currency trading, market share, exchange operations, tax implications, investment trends, energy consumption of coin mining, environmental consequences, market transparency, potential illegal activities, and comparative regulatory approaches from other jurisdictions. The task force members will serve without compensation but can be reimbursed for expenses, and they are expected to bring relevant expertise to the study. The bill is designed to provide policymakers with crucial insights into the rapidly evolving cryptocurrency ecosystem, potentially informing future legislative and regulatory decisions. The task force will automatically dissolve on December 15, 2027, after submitting its report.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A3279