Assembly Bill A1683

2019-2020 Legislative Session

Relates to allowing signatures secured through blockchain technology to be considered an electronic signature

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

multi-Sponsors

2019-A1683 (ACTIVE) - Details

See Senate Version of this Bill:
S4142
Current Committee:
Assembly Governmental Operations
Law Section:
State Technology Law
Laws Affected:
Amd §302, add §310, St Tech L
Versions Introduced in Other Legislative Sessions:
2017-2018: A8780, S8858
2021-2022: A3760, S1801
2023-2024: A2643

2019-A1683 (ACTIVE) - Summary

Relates to allowing signatures, records and contracts secured through blockchain technology to be considered in an electronic form and to be an electronic record and signature; allows smart contracts to exist in commerce.

2019-A1683 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1683
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 16, 2019
                                ___________
 
 Introduced  by  M. of A. VANEL, WRIGHT, MOSLEY, BARRON, PICHARDO, BLAKE,
   BICHOTTE, RIVERA, RA -- Multi-Sponsored by -- M. of  A.  DenDEKKER  --
   read once and referred to the Committee on Governmental Operations
 
 AN  ACT  to  amend  the  state technology law, in relation to blockchain
   technology and smart contracts

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  302  of  the  state technology law is amended by
 adding two new subdivisions 6 and 7 to read as follows:
   6. "BLOCKCHAIN TECHNOLOGY" SHALL MEAN  DISTRIBUTED  LEDGER  TECHNOLOGY
 THAT  USES  A  DISTRIBUTED, DECENTRALIZED, SHARED AND REPLICATED LEDGER,
 WHICH MAY BE PUBLIC OR PRIVATE, PERMISSIONED OR PERMISSIONLESS, OR DRIV-
 EN BY TOKENIZED CRYPTO ECONOMICS OR TOKENLESS. THE DATA ON THE LEDGER IS
 PROTECTED WITH CRYPTOGRAPHY, IS IMMUTABLE AND AUDITABLE AND PROVIDES  AN
 UNCENSORED TRUTH.
   7.  "SMART CONTRACT" SHALL MEAN AN EVENT-DRIVEN PROGRAM THAT RUNS ON A
 DISTRIBUTED, DECENTRALIZED, SHARED AND REPLICATED LEDGER  AND  THAT  CAN
 TAKE CUSTODY OVER AND INSTRUCT TRANSFER OF ASSETS ON THAT LEDGER.
   §  2.  The state technology law is amended by adding a new section 310
 to read as follows:
   § 310. SIGNATURES AND RECORDS SECURED  THROUGH  BLOCKCHAIN  TECHNOLOGY
 AND  SMART  CONTRACTS. 1. A SIGNATURE THAT IS SECURED THROUGH BLOCKCHAIN
 TECHNOLOGY IS CONSIDERED TO BE IN AN ELECTRONIC FORM AND TO BE AN  ELEC-
 TRONIC SIGNATURE.
   2.  A RECORD OR CONTRACT THAT IS SECURED THROUGH BLOCKCHAIN TECHNOLOGY
 IS CONSIDERED TO BE IN AN  ELECTRONIC  FORM  AND  TO  BE  AN  ELECTRONIC
 RECORD.
   3.  SMART  CONTRACTS  MAY  EXIST IN COMMERCE. A CONTRACT RELATING TO A
 TRANSACTION MAY NOT BE DENIED LEGAL EFFECT, VALIDITY  OR  ENFORCEABILITY
 SOLELY BECAUSE THAT CONTRACT CONTAINS A SMART CONTRACT TERM.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01269-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.