Assembly Actions -
Senate Actions - UPPERCASE
|Jan 05, 2022||
referred to internet and technology
|Feb 22, 2021||
referred to internet and technology
Senate Bill S5044
2021-2022 Legislative Session
Archive: Last Bill Status - In Senate Committee Internet And Technology Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2021-S5044 (ACTIVE) - Details
2021-S5044 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5044 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.
2021-S5044 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5044 2021-2022 Regular Sessions I N S E N A T E February 22, 2021 ___________ Introduced by Sens. PARKER, SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Internet and Technology 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. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09242-01-1
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