The Governor of the state of new York Andrew Cuomo signed a bill creating a special Commission on the issues of a cryptocurrency from the state of new York. This was reported by a member of the state Assembly Clyde Vanelo.
“New York is the financial capital of the country. We must lead the way in the regulation of Finance. A special Commission will allow us to strike a balance between sustainable blockchain/cryptomnesia and protection of the rights of investors and consumers of the state”, — he stressed.
The Commission will consist of nine members, including the representatives of the sphere of developers, consumers, business and investors. The task of the new formation will be to inform the Governor and the legislature on the impact of digital currencies on the economy of the state.
We note that the Commission is obliged to issue its first report until December 15, 2020. It must contain the following information:
- overview of blockchain industry in new York;
- the number of traded cryptocurrencies and their market share;
- the number of cryptocurrency exchanges operating on the territory of the state, and their average monthly trading volume;
- type of investment firms are heavily invested in cryptocurrencies;
- data on energy consumption by mining industry in the state;
- information about market manipulation and criminal activity;
- legislative and regulatory recommendations.
Earlier it became known that the owners of bitcoin exchange, Gemini brothers Winklevoss have made generous donations to the election Fund of the Governor Cuomo. And in less than a month after donating $100 thousand exchange was licensed.
Source
