A New York senator has introduced a bill to create a specialized cryptocurrency task force to examine the current landscape of cryptocurrencies and digital currencies in the city.
The proposed New York State Cryptocurrency and Blockchain Study Act, introduced by State Senator James Sanders Jr. on Feb. 12, seeks to form a 17-member task force.
This group will investigate the impact of the widespread use of cryptocurrencies, other digital currencies and their related systems.
As noted on the New York State Senate website, the task force's study will focus on the state of cryptocurrencies in New York, the number of digital currencies traded, the count of exchanges within the state, and how these digital currencies impact state and local tax revenues.