New York Senator Proposes Bill to Create a Crypto Task Force
New York State Senator James Sanders Jr. has put forward a bill aimed at creating a crypto task force as the state reassesses its regulatory approach in light of federal policy changes impacting the industry.
The bill, currently under review by a Senate committee, mandates that experts present their findings on the impact of cryptocurrency on state revenue and the environment by the end of 2027.
According to the bill’s text, the proposed 17-member panel would examine the effects of cryptocurrency on state tax revenue, environmental consequences, and market transparency.
The task force would consist of representatives from the Department of Financial Services, environmental conservation groups, and academic specialists in economics. While members would not be compensated, they would be eligible for expense reimbursements.
