A special cryptocurrency commission

New York State Governor Andrew Cuomo signed a bill to create a special cryptocurrency commission from New York State. This was announced by State Assembly Member Clyde Vanel.

“New York is the financial capital of the country. We must lead in regulating fintech. A special commission will allow us to strike a balance between a stable blockchain- / cryptoindustry and protecting the rights of investors and state consumers, ” he stressed.

The commission will consist of nine members, including representatives of developers, consumers, businesses and investors. The task of the new formation will include informing the governor and the legislative assembly on the impact of digital currencies on the state economy.

Note that the commission is obliged to compile the first report before December 15, 2020. It should include the following data:

• review of blockchain industry in New York;
• the number of cryptocurrencies traded and their market share;
• the number of cryptocurrency exchanges operating in the state, and their average monthly trading volume;
• type of investment firms that have invested heavily in cryptocurrency;
• Energy consumption data for the mining industry in the state;
• information on market manipulation and criminal activity;
• legislative and regulatory recommendations.

Earlier it became known that the owners of the Bitcoin exchange Gemini, the Winklevoss brothers, made generous donations to the electoral fund of Governor Cuomo. And less than a month after the donation of $ 100 thousand exchange was licensed.

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