New York is one of the few states in America which is taking the arrival of cryptocurrencies very seriously. New York was one of the first states to provide a proto regulatory framework for the cryptocurrency exchanges to perform.

This time the bank committee of New York state legislature wants to create a task force. They have already introduced the bill to kick start the process.

The bill was introduced on May 30th. The aim is the creation of a digital currency task force.

The initial workings of the task force will be research based. It is formed to study the potential effects of the implementation of cryptocurrencies on the financial stability of the markets.

The focus is on the effects on the New York state. The bill propose a body consistent of nine members. Read more from…

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