Assembly Bill A8783B

Signed By Governor
2017-2018 Legislative Session

Relates to the creation of the digital currency task force

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Sponsored By

Archive: Last Bill Status - Signed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

multi-Sponsors

2017-A8783 - Details

See Senate Version of this Bill:
S9013
Law Section:
Financial Services

2017-A8783 - Summary

Creates the 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 financial markets in the state.

2017-A8783 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8783
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 27, 2017
                                ___________
 
 Introduced  by M. of A. VANEL -- read once and referred to the Committee
   on Banks
 
 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.
   § 5. The department of financial services shall submit a report, on or
 before January 1, 2019, to the governor and the legislature of its find-
 ings, conclusions and recommendations, and  legislative  and  regulatory
 proposals deemed necessary to implement such recommendations.
   § 6. This act shall take effect immediately.

co-Sponsors

multi-Sponsors

2017-A8783A - Details

See Senate Version of this Bill:
S9013
Law Section:
Financial Services

2017-A8783A - Summary

Creates the 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 financial markets in the state.

2017-A8783A - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8783--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 27, 2017
                                ___________
 
 Introduced  by  M.  of  A.  VANEL, KIM, LENTOL, WOERNER, SIMON, LUPARDO,
   TITONE, RAIA, MONTESANO, RA, AUBRY,  GALEF,  WRIGHT,  MOSLEY,  BARRON,
   SKOUFIS,  PICHARDO, BLAKE, RIVERA, NIOU -- Multi-Sponsored by -- M. of
   A. ABINANTI, DE LA ROSA, DenDEKKER, GIGLIO -- read once  and  referred
   to  the Committee on Banks -- recommitted to the Committee on Banks in
   accordance with Assembly Rule 3, sec. 2 -- committee discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to establish the digital currency task force; and  providing  for
   the repeal of such provisions upon expiration thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The legislature  hereby  establishes  the  New  York  state
 digital  currency  task  force  (referred  to  hereinafter  as the "task
 force") to provide the governor and the legislature with information  on
 the effects of the widespread use of cryptocurrencies and other forms of
 digital currencies and their ancillary systems in the state.
   § 2. 1. The task force shall consist of nine members as follows:
   a. three 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; and
   e. one member appointed by the minority leader of the assembly.
   2.  The  members  of  the task force shall receive no compensation for
 their services, but shall be allowed their actual and necessary expenses
 incurred in the performance of their duties pursuant to this act.
   3. Any vacancies in the membership of the task force shall  be  filled
 in the same manner provided for in the initial appointment.
   4.  The task force may consult with any organization, government enti-
 ty, or person, in the development of its report required  under  section
 three of this act.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

multi-Sponsors

2017-A8783B (ACTIVE) - Details

See Senate Version of this Bill:
S9013
Law Section:
Financial Services

2017-A8783B (ACTIVE) - Summary

Creates the 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 financial markets in the state.

2017-A8783B (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8783--B
                                                             R. R. 50
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 27, 2017
                                ___________
 
 Introduced  by  M.  of  A.  VANEL, KIM, LENTOL, WOERNER, SIMON, LUPARDO,
   TITONE, RAIA, MONTESANO, RA, AUBRY,  GALEF,  WRIGHT,  MOSLEY,  BARRON,
   SKOUFIS,  PICHARDO,  BLAKE,  RIVERA, NIOU, WEPRIN, OTIS -- Multi-Spon-
   sored by -- M. of A.  ABINANTI, DE LA ROSA, DenDEKKER, GIGLIO --  read
   once  and  referred  to  the  Committee on Banks -- recommitted to the
   Committee on Banks in accordance with  Assembly  Rule  3,  sec.  2  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee -- reported and referred to the  Commit-
   tee  on  Ways  and  Means -- reported and referred to the Committee on
   Rules -- ordered to a third reading, passed by Assembly and  delivered
   to  the  Senate,  recalled  from  the  Senate, vote reconsidered, bill
   amended, ordered reprinted, retaining its place on the  special  order
   of third reading
 
 AN  ACT  to establish the digital currency task force; and providing for
   the repeal of such provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The  legislature  hereby  establishes  the New York state
 digital currency task  force  (referred  to  hereinafter  as  the  "task
 force")  to provide the governor and the legislature with information on
 the effects of the widespread use of cryptocurrencies and other forms of
 digital currencies and their ancillary systems in the state.
   § 2. 1. The task force shall consist of nine members as follows:
   a. three 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; and
   e. one member appointed by the minority leader of the assembly.
   2. The members of the task force shall  receive  no  compensation  for
 their services, but shall be allowed their actual and necessary expenses
 incurred in the performance of their duties pursuant to this act.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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