The New York State Senate

 
                     S T A T E   O F   N E W   Y O R K
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                                  2873--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2023
                                ___________
 
 Introduced  by  M.  of A. KELLES, SIMON -- read once and referred to the
   Committee on Governmental Operations  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to amend the public officers law, in  relation  to  reporting  of
   cryptocurrency  holdings  on the annual statement of financial disclo-
   sure
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 3 of section 73-a of the public officers law is
 amended by adding a new paragraph 16-a to read as follows:
   16-A. LIST BELOW THE TYPE AND MARKET VALUE OF CRYPTOCURRENCIES HELD BY
 THE REPORTING INDIVIDUAL OR SUCH INDIVIDUAL'S SPOUSE OR DOMESTIC PARTNER
 IN  EXCESS  OF  $1,000  AT  THE CLOSE OF THE TAXABLE YEAR LAST OCCURRING
 PRIOR TO THE DATE OF FILING. WHENEVER AN  INTEREST  IN  CRYPTOCURRENCIES
 EXISTS  THROUGH  A  BENEFICIAL INTEREST IN A TRUST, THE CRYPTOCURRENCIES
 HELD IN SUCH TRUST SHALL BE LISTED ONLY IF THE REPORTING INDIVIDUAL  HAS
 KNOWLEDGE THEREOF EXCEPT WHERE THE REPORTING INDIVIDUAL OR THE REPORTING
 INDIVIDUAL'S  SPOUSE  OR DOMESTIC PARTNER HAS TRANSFERRED ASSETS TO SUCH
 TRUST FOR HIS OR HER BENEFIT IN WHICH EVENT SUCH CRYPTOCURRENCIES  SHALL
 BE  LISTED UNLESS THEY ARE NOT ASCERTAINABLE BY THE REPORTING INDIVIDUAL
 BECAUSE THE TRUSTEE IS UNDER AN OBLIGATION OR  HAS  BEEN  INSTRUCTED  IN
 WRITING NOT TO DISCLOSE THE CONTENTS OF THE TRUST TO THE REPORTING INDI-
 VIDUAL.    CRYPTOCURRENCIES  OF  WHICH  THE  REPORTING INDIVIDUAL OR THE
 REPORTING INDIVIDUAL'S SPOUSE OR DOMESTIC PARTNER IS THE OWNER OF RECORD
 BUT IN WHICH SUCH INDIVIDUAL OR THE  REPORTING  INDIVIDUAL'S  SPOUSE  OR
 DOMESTIC  PARTNER  HAS  NO BENEFICIAL INTEREST SHALL NOT BE LISTED. ALSO
 LIST CRYPTOCURRENCIES OWNED FOR INVESTMENT  PURPOSES  BY  A  CORPORATION
 MORE  THAN  FIFTY  PERCENT  (50%)  OF  THE  STOCK  OF  WHICH IS OWNED OR
 CONTROLLED BY THE REPORTING INDIVIDUAL OR SUCH  INDIVIDUAL'S  SPOUSE  OR
 DOMESTIC  PARTNER. FOR THE PURPOSES OF THIS ITEM THE TERM "CRYPTOCURREN-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03465-02-3

 A. 2873--A                          2
 
 CY" SHALL MEAN A DIGITAL CURRENCY IN  WHICH  ENCRYPTION  TECHNIQUES  ARE
 USED  TO  REGULATE  THE  GENERATION OF UNITS AND CURRENCY AND VERIFY THE
 TRANSFER OF FUNDS, OPERATING INDEPENDENTLY FROM A CENTRAL BANK.

                                         CATEGORY OF
                                         MARKET VALUE
                                         AS OF THE CLOSE
                                         OF THE TAXABLE
                                         YEAR LAST
                                         OCCURRING
                                         PRIOR TO
   SELF/        TYPE OF                  THE FILING OF
   SPOUSE OR    CRYPTOCURRENCY           THIS STATEMENT
   DOMESTIC                              (IN TABLE II)
   PARTNER
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   §  2. This act shall take effect on the first of January next succeed-
 ing the date upon which it shall have become a law.