New York Senator Pushes for Crypto Task Force to Study Industry Impact

New York State Senator James Sanders Jr. has introduced a bill to create a 17-member crypto task force to examine the impact of cryptocurrencies on the state’s economy, tax system, and regulations. The study will also assess environmental concerns and compare New York’s crypto rules to other jurisdictions. If approved, the task force must present its findings by December 2027. Meanwhile, over 20 U.S. states are exploring crypto-related legislation, with potential regulations driving billions in Bitcoin demand, according to VanEck. The bill is currently under committee review.