New York Senator Introduces Bill to Establish a Task Force on Crypto

A New York State Senator has proposed the formation of a 17-member task force to evaluate the cryptocurrency market’s current impact within the state.

Senator James Sanders Jr. introduced the proposal on February 12, through a new bill titled the New York State Cryptocurrency and Blockchain Study Act. This bill aims to establish a task force to study the effects of cryptocurrency in New York.

According to the bill, the task force will consist of 17 members. The Governor of New York will appoint seven members, including representatives from academia, financial services, and environmental sectors.

Additionally, the temporary president of the Senate will appoint four members, and the Speaker of the Assembly will appoint another four. The Comptroller of New York and the State’s Attorney General will serve as the remaining two members of the group.