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Assembly Bill A11616

2025-2026 Legislative Session

Regulates certain bounty websites

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Current Bill Status - In Assembly Committee

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2025-A11616 (ACTIVE) - Details

Current Committee:
Assembly Science And Technology
Law Section:
General Business Law
Laws Affected:
Add §390-f, Gen Bus L

2025-A11616 (ACTIVE) - Summary

Regulates certain bounty websites which offer meme currency in exchange for completing tasks are consistent with New York state law; defines "meme currency"; authorizes the attorney general to ensure bounty websites are compliant with the law.

2025-A11616 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   11616
 
                           I N  A S S E M B L Y
 
                               July 29, 2026
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Powers) --
   read once and referred to the Committee on Science and Technology
 
 AN ACT to amend the general business  law,  in  relation  to  regulating
   certain  covered  platforms  which offer bounties in exchange for meme
   currency
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new section
 390-f to read as follows:
   §  390-F.  BOUNTY  WEBSITE  REGULATION.  1.  FOR  THE PURPOSES OF THIS
 SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "BOUNTY" SHALL MEAN A UNILATERAL TASK POSTED BY A USER  REQUESTING
 ANOTHER USER COMPLETE A TASK IN EXCHANGE FOR SOMETHING OF VALUE. FOR THE
 PURPOSES  OF  THIS  SECTION,  "SOMETHING  OF  VALUE"  SHALL INCLUDE MEME
 CURRENCY.
   (B) "COVERED PLATFORM" SHALL MEAN A  PUBLIC  OR  SEMIPUBLIC  INTERNET-
 BASED SERVICE OR APPLICATION THAT HAS USERS IN NEW YORK STATE AND OFFERS
 THE TRADING OF MEME CURRENCIES IN EXCHANGE FOR COMPLETING A BOUNTY POST-
 ED BY A USER.
   (C)  "MEME  CURRENCY"  SHALL  MEAN  A  CATEGORY OF CRYPTOCURRENCY THAT
 DERIVES ITS PERCEIVED VALUE  PRIMARILY  FROM  INTERNET  CULTURE,  SOCIAL
 MEDIA  PROMOTION,  AND  SPECULATIVE  TRADING  RATHER THAN ANY UNDERLYING
 UTILITY OR TECHNOLOGICAL INNOVATION.
   2. ANY COVERED PLATFORM WHICH HAS A SYSTEM WHERE  USERS  CAN  OFFER  A
 BOUNTY  TO OTHER USERS IN EXCHANGE FOR A MEME CURRENCY SHALL BE REQUIRED
 TO REMOVE ANY SUCH BOUNTY THAT REQUIRES A PERSON TO VIOLATE ANY NEW YORK
 STATE LABOR LAW OR PENAL LAW IN ORDER TO  RECEIVE  SUCH  MEME  CURRENCY.
 SUCH  COVERED  PLATFORM SHALL TAKE IMMEDIATE STEPS TO REMOVE SUCH BOUNTY
 UPON NOTICE THAT A BOUNTY VIOLATES APPLICABLE LABOR OR PENAL LAWS IN THE
 STATE OF NEW YORK.
   3. A VIOLATION OF THIS SECTION SHALL BE PUNISHABLE BY A CIVIL  PENALTY
 NOT  TO  EXCEED  ONE THOUSAND DOLLARS. ANY SUBSEQUENT VIOLATION SHALL BE
 PUNISHABLE BY A CIVIL PENALTY NOT TO EXCEED FIVE THOUSAND DOLLARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16130-01-6

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