New York state Senator James Sanders Jr. has introduced a bill to form a crypto task force as the state reassesses its regulations concerning digital assets. The proposed 17-member task force aims to study the impact of cryptocurrencies on state revenue, environmental considerations, and market transparency. Members would include representatives from the Department of Financial Services and environmental organizations, although they would serve without compensation. The findings from this task force are expected to guide future crypto policy in New York, which has some of the strictest regulations in the U.S. due to its BitLicense framework. The task force would be established within 90 days of the bill's passage, with recommendations due by the end of 2027. Sanders emphasizes the need to evaluate the effects of blockchain technology on innovation and economic growth as New York competes for financial investment.

Source 🔗