The body is to review the virtual coin and blockchain markets as well as the existing legal framework in the state.
The US state of New York has set up a digital asset task force with the goal to review the regulatory environment in the state and to submit a report after conducting a two-year analysis, a local lawmaker said in a press release on Wednesday. Clyde Vanel, a Democratic Party member of the State Assembly, published the statement via his Facebook account, claiming that the working group is the first of its kind in the United States.
Vanel was one of the authors of a bill that obliged the state to establish the task force. On December 21, Governor Andrew Cuomo (Democratic Party) signed the bill, and the act took effect immediately.