- Summary
- Actions
- Committee Votes
- Floor Votes
- Memo
- Text
- LFIN
- Chamber Video/Transcript
S08136 Summary:
BILL NO | S08136A |
  | |
SAME AS | SAME AS A09507 |
  | |
SPONSOR | SANDERS |
  | |
COSPNSR | WEBB |
  | |
MLTSPNSR | |
  | |
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Establishes the New York state cryptocurrency and blockchain study 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, including but not limited to blockchain technology, in the state. |
S08136 Actions:
BILL NO | S08136A | |||||||||||||||||||||||||||||||||||||||||||||||||
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01/09/2024 | REFERRED TO BANKS | |||||||||||||||||||||||||||||||||||||||||||||||||
03/05/2024 | 1ST REPORT CAL.589 | |||||||||||||||||||||||||||||||||||||||||||||||||
03/06/2024 | 2ND REPORT CAL. | |||||||||||||||||||||||||||||||||||||||||||||||||
03/11/2024 | ADVANCED TO THIRD READING | |||||||||||||||||||||||||||||||||||||||||||||||||
03/12/2024 | AMENDED ON THIRD READING 8136A | |||||||||||||||||||||||||||||||||||||||||||||||||
05/15/2024 | PASSED SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
05/15/2024 | DELIVERED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
05/16/2024 | referred to ways and means | |||||||||||||||||||||||||||||||||||||||||||||||||
05/30/2024 | substituted for a9507 | |||||||||||||||||||||||||||||||||||||||||||||||||
05/30/2024 | ordered to third reading rules cal.268 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/05/2024 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
06/05/2024 | returned to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
11/15/2024 | DELIVERED TO GOVERNOR | |||||||||||||||||||||||||||||||||||||||||||||||||
11/22/2024 | VETOED MEMO.67 |
S08136 Committee Votes:
Go to topS08136 Floor Votes:
Yes
Alvarez
Yes
Byrnes
Yes
Fall
No
Kelles
Yes
Otis
Yes
Simpson
Yes
Anderson
Yes
Carroll
Yes
Fitzpatrick
Yes
Kim
Yes
Palmesano
Yes
Slater
Yes
Angelino
Yes
Chandler-Waterm
Yes
Flood
Yes
Lavine
Yes
Paulin
Yes
Smith
Yes
Ardila
Yes
Chang
Yes
Forrest
Yes
Lee
Yes
Peoples-Stokes
Yes
Smullen
Yes
Aubry
Yes
Clark
Yes
Friend
Yes
Lemondes
Yes
Pheffer Amato
Yes
Solages
Yes
Barclay
Yes
Colton
Yes
Gallagher
Yes
Levenberg
Yes
Pirozzolo
No
Steck
Yes
Barrett
Yes
Conrad
Yes
Gallahan
ER
Lucas
Yes
Pretlow
Yes
Stern
Yes
Beephan
Yes
Cook
Yes
Gandolfo
Yes
Lunsford
Yes
Ra
Yes ‡
Stirpe
Yes
Bendett
Yes
Cruz
Yes
Gibbs
Yes
Lupardo
Yes
Raga
Yes
Tague
Yes
Benedetto
Yes
Cunningham
Yes
Giglio JA
Yes
Magnarelli
Yes
Rajkumar
Yes
Tannousis
Yes
Berger
Yes
Curran
Yes
Giglio JM
ER
Maher
Yes
Ramos
Yes
Tapia
Yes
Bichotte Hermel
Yes
Dais
Yes
Glick
Yes
Mamdani
Yes
Reilly
Yes
Taylor
Yes
Blankenbush
Yes
Darling
No
Gonzalez-Rojas
Yes
Manktelow
Yes
Reyes
Yes
Thiele
Yes
Blumencranz
Yes
Davila
Yes
Goodell
Yes
McDonald
Yes
Rivera
Yes
Vanel
Yes
Bores
Yes
De Los Santos
Yes
Gray
Yes ‡
McDonough
Yes
Rosenthal
Yes
Walker
Yes
Brabenec
Yes
DeStefano
Yes
Gunther
Yes
McGowan
Yes
Rozic
Yes
Wallace
Yes
Braunstein
ER
Dickens
Yes
Hawley
Yes
McMahon
Yes
Santabarbara
Yes
Walsh
Yes
Bronson
Yes
Dilan
Yes
Hevesi
Yes
Meeks
Yes
Sayegh
Yes
Weinstein
Yes
Brook-Krasny
Yes
Dinowitz
Yes
Hunter
Yes
Mikulin
Yes
Seawright
Yes
Weprin
Yes
Brown EA
Yes
DiPietro
Yes
Hyndman
Yes
Miller
Yes
Septimo
No
Williams
Yes
Brown K
Yes
Durso
ER
Jackson
Yes
Mitaynes
Yes
Shimsky
No
Woerner
Yes
Burdick
Yes
Eachus
Yes
Jacobson
Yes
Morinello
Yes
Shrestha
Yes
Zaccaro
Yes
Burgos
Yes
Eichenstein
Yes
Jean-Pierre
Yes
Norris
Yes
Sillitti
Yes
Zebrowski
Yes
Burke
No
Epstein
Yes
Jensen
Yes
Novakhov
Yes
Simon
Yes
Zinerman
Yes
Buttenschon
Yes
Fahy
Yes
Jones
ER
O'Donnell
Yes
Simone
Yes
Mr. Speaker
‡ Indicates voting via videoconference
S08136 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 8136--A Cal. No. 589 IN SENATE January 9, 2024 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- reported favora- bly from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT in relation to establishing the New York state cryptocurrency and blockchain study 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: 1 Section 1. Short title. This act shall be known and may be cited as 2 the "New York state cryptocurrency and blockchain study act". 3 § 2. There is hereby established the New York state cryptocurrency and 4 blockchain study task force (hereinafter referred to as "the task 5 force") to provide the governor and the legislature with information on 6 the effects of the widespread use of cryptocurrencies and other forms of 7 digital currencies and their ancillary systems, including but not limit- 8 ed to blockchain technology, in the state. 9 § 3. 1. The task force shall consist of seventeen members as follows: 10 a. seven members appointed by the governor, which shall include the 11 following five members: 12 i. the superintendent of the department of financial services, or such 13 superintendent's designee; 14 ii. the commissioner of the department of environmental conservation, 15 or such commissioner's designee; 16 iii. a representative from the financial services industry; 17 iv. a representative from a state or national organization promoting 18 environmental conservation; and 19 v. a representative who is a faculty member of an accredited college 20 or university in New York state with experience in economic studies. 21 b. the comptroller of the state of New York, or the comptroller's 22 designee; 23 c. four members appointed by the temporary president of the senate; 24 d. four members appointed by the speaker of the assembly; and EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03808-05-4S. 8136--A 2 1 e. the attorney general of the state of New York, or the attorney 2 general's designee. 3 2. To the extent practicable, members appointed to the task force 4 shall have relevant experience and knowledge concerning the digital 5 currency, cryptocurrency and blockchain industries. 6 3. The members of the task force shall receive no compensation for 7 their services, but shall be allowed their actual and necessary expenses 8 incurred in the performance of their duties pursuant to this act. 9 4. Any vacancies in the membership of the task force shall be filled 10 in the same manner provided for in the initial appointment. 11 5. The task force may consult with any organization, government enti- 12 ty, or person, in the development of its report required under section 13 four of this act. 14 6. The members of the task force shall be appointed no later than 15 ninety days after the effective date of this act. 16 § 4. On or before December 15, 2026, the task force shall submit to 17 the governor, the temporary president of the senate and the speaker of 18 the assembly a report containing, but not limited to, the following 19 information based on available data: 20 a. a review of the digital currency, cryptocurrency and blockchain 21 industries in New York state; 22 b. the number of digital currencies currently being traded and their 23 approximate percentage of market share; 24 c. the number of exchanges operating in New York state and their aver- 25 age monthly trade volume; 26 d. the use of digital currencies' impact on state and local tax 27 receipts; 28 e. the types of investment entities that are large investors in 29 digital currency; 30 f. the energy consumption necessary for coin mining operations and 31 other policy considerations related thereto; 32 g. the environmental impact of coin mining operations; 33 h. the transparency of the digital currency marketplace and the 34 related potential of market manipulation and other illegal activities; 35 i. a review of laws and regulations on digital currency used by other 36 states, the federal government, foreign countries, and foreign political 37 and economic unions to regulate the marketplace; and 38 j. legislative and regulatory recommendations, if any, to increase 39 transparency and security, enhance consumer protections, and to address 40 the long-term impact related to the use of cryptocurrency. 41 § 5. This act shall take effect immediately and shall expire December 42 15, 2026 when upon such date the provisions of this act shall be deemed 43 repealed.