The state of New York has announced the establishment of a task force to explore the cryptocurrency market and its regulation.
The members of the task force will reflect on how to define, use and regulate cryptocurrencies and will submit their findings by Dec. 15, 2020, according to the announcement. The team will be appointed by the state’s Governor, Senate and Assembly and will include institutional and retail investors, large and small blockchain companies’ representatives, academics, consumers and tech experts.
The conclusions produced will likely be used to update the state of New York regulation regarding the sector.
“The task force of experts will help us strike the balance between having a robust blockchain industry and cryptocurrency economic environment while at the same time protecting New York investors and consumers.” — Clyde Vanel, the New York State Assemblyman who announced the creation of the task force.
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