|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Feb 13, 2018||referred to banks|
senate Bill S7724
Archive: Last Bill Status - In Senate Committee Banks Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7724 (ACTIVE) - Details
S7724 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7724 SPONSOR: PARKER TITLE OF BILL: An act to establish the digital currency task force PURPOSE OR GENERAL IDEA OF BILL: Establishes a commission to study how to regulate cryptocurrencies in New York State SUMMARY OF PROVISIONS: Section 1 authorizes the department of financial services to establish a New York State digital currency task force. Section 2 states who the task force shall be comprised of. Section 3 lists the responsibilities and roles of the taskforce. Section 4 explains who the taskforce will work and collaborate with.
S7724 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7724 I N S E N A T E February 13, 2018 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to establish the digital currency task force THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The department of financial services is hereby authorized to establish the New York state digital currency task force to provide the governor and the legislature with information on the potential effects of the widespread implementation of digital currencies on finan- cial markets in the state. § 2. The task force shall be comprised of: a. two members appointed by the governor; b. two members appointed by the temporary president of the senate; c. two members appointed by the speaker of the assembly; d. one member appointed by the minority leader of the senate; e. one member appointed by the minority leader of the assembly; and f. two members appointed by the superintendent of the department of financial services. § 3. The task force shall: a. examine and evaluate digital currencies within the state; b. identify the potential effects of the widespread implementation of digital currencies on financial markets; c. review the impact of the department's BitLicense program on the use of digital currencies; and d. make recommendations to further utilize digital currencies within the state. § 4. Such task force shall collaborate with state and city of New York agencies including, but not limited to, the department of taxation and finance and the department of finance of the city of New York. § 5. The department of financial services shall submit a report, on or before January 1, 2019, to the governor and the legislature of its find- ings, conclusions and recommendations, and legislative and regulatory proposals deemed necessary to implement such recommendations. § 6. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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