New York creates cryptocurrency task force
New York became the first US state to create a cryptocurrency task force. The governor Andrew Cuomo signed the bill dubbed “The Digital Currency Study Bill” into law on Dec. 21, 2018, the aim of which is to study the regulation, use and definition of digital cryptocurrency.
The members of the task force which includes technologists, consumers, investors, blockchain companies and academics will have to submit relevant reports by Dec. 15, 2020. The reports will study the impact of regulations on the development of digital currencies and blockchain industries within the state, the use of cryptocurrencies’ effect on local tax receipts, and the transparency of the digital currency marketplace.