New York State Assembly Member Proposes Considering Issuing State Cryptocurrency

New York State Assemblyman Clyde Wanel, who has previously filed several bills related to blockchain technology, filed a new bill on February 2 that calls for consideration of a state-owned cryptocurrency.

Among other things, the bill would create a task force that would examine “the impact of government-issued cryptocurrency on the State of New York.”

The task force would examine what it would take for the state to mine and issue cryptocurrency, and how such an issuance would affect the oversight of transactions currently exercised by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission. The task force, if approved, would also examine "the monetary policy and financial stability implications of issuing such a cryptocurrency and how it would impact local, state and federal taxation."

The bill was authored by Clyde Vanel, who filed four bills related to cryptocurrency and blockchain technology in late November. One of the bills called for officials to study the use of blockchain technology in elections to protect voter votes and voting information.

Public records indicate that the New York State Legislature is poised to discuss the issuance of cryptocurrency, as well as the regulatory framework for granting licenses for cryptocurrency-related activities, at a meeting later this month.

Senators David Carlucci and Jesse Hamilton are set to hold a public meeting on February 23, which will consider issues including the following "logistics" and activities related to cryptocurrency, its regulation through the provision of licenses in the state of New York and in other states at the federal level."

At the moment it is not known who will participate in the meeting.

According to https://www.coindesk.com