Bill > S04728

This bill establishes the New York State Cryptocurrency and Blockchain Study Task Force, a 16-member group tasked with comprehensively examining the digital currency landscape in New York. The task force will include representatives from state agencies, financial services, environmental conservation, academia, cryptocurrency trade groups, and government offices. By December 15, 2027, the group must submit a detailed report to state leadership analyzing various aspects of cryptocurrencies, including market share, trading volumes, tax implications, investment trends, energy consumption, environmental impact, potential for market manipulation, and regulatory frameworks. Members will not be compensated but can be reimbursed for expenses, and they are expected to have relevant expertise in digital currencies, blockchain technology, and related industries. The task force is designed to provide policymakers with an in-depth understanding of the current and potential future impacts of cryptocurrencies in New York, with the goal of developing potential legislative and regulatory recommendations to enhance transparency, security, and consumer protections in this emerging financial technology sector. The bill will automatically expire on December 15, 2027, after the report is submitted.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S4728