senate Bill S4593

2019-2020 Legislative Session

Relates to the creation of the digital currency task force

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Internet And Technology Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to internet and technology
Mar 15, 2019 committee discharged and committed to internet and technology
referred to banks

Co-Sponsors

S4593 (ACTIVE) - Details

Current Committee:
Senate Internet And Technology
Law Section:
Financial Services
Versions Introduced in 2017-2018 Legislative Session:
S7724

S4593 (ACTIVE) - Summary

Creates the 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 financial markets in the state.

S4593 (ACTIVE) - Sponsor Memo

S4593 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4593

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             March 15, 2019
                               ___________

Introduced by Sens. PARKER, SEPULVEDA -- 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, 2020, 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.

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