New York Cryptocurrency Task Force Will Regulate Digital Currencies

In an effort to properly regulate, define and use alternative digital currencies and the technology that underpins them, blockchain, New York State plans to set up a cryptocurrency task force. Members of the task force were appointed by the Governor, Senate and Assembly, and include stakeholders such as, technologists, consumers, institutional and small investors, large and small blockchain enterprises and academics. “New York leads the country in finance. We will also lead in proper fintech regulation,” explained Clyde Vanel, NYS Assemblyman, and chair of the Subcommittee on Internet and New Technologies. “The task force of experts will help us strike the balance between having a robust blockchain industry and cryptocurrency economic environment while at the same time protecting New York investors and consumers.” The task force will begin submitting reports by December 15, 2020. Source.

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