Legislative Assembly of the state of new York announced the creation of the working group on cryptocurrencies. The Chairman of the meeting Clyde Vanelo said that new York was the first state which began to study the use and management of digital assets.
Governor Andrew Cuomo signed a bill “On the study of digital currency.” The working group will include the blockchain professionals, investors, academics and representatives of kryptonyte. Experts need to examine the impact of cryptocurrencies on the tax revenues and the local economy. The group should report the results of the work to December 15, 2020.
“New York is a leader in the field of Finance. We need to create appropriate regulation in the field of FINTECH. Target group experts will help us to find the balance between sustainable blockchain industry and protecting new York investors and consumers,” said Clyde Vanelo.
Earlier, Governor Andrew Cuomo was suspected of receiving a bribe from the founders of crypto currency exchange Gemini. The site got the new York Bit License after large donations in the election campaign policy.