Empire State may be about to get a new wave of encryption regulation. The leading legislation proposed by Senator in New York State James Sanders Junior will create an important committee of 17 members who will study the world of the digital currency.
He was revealed on February 12, Proposal It seeks to dissect everything from trade trends to the environmental effects of encryption operations within the borders of the state.
Digital funds under the lens
Delegate the work group is ambitious and comprehensive. Members will look at the current situation Bitcoin Trading in New York, active stock exchanges, and evaluating how digital currencies affect government and municipal tax groups.
After December 15, 2027, as a final date, the group will have time to collect their data and suggestions for the ruler and the legislature.
Source: New York State Senate
A complex dance with encryption innovation in Big Apple
The timing of this law talks about volumes about the changing New York mentality Digital currency. For encryption companies, state Bitlicense program It was completely suffocating since its inception in 2015.
Although New York City leads itself as a hot point of encryption, the leaders of industry and the mayor of supporters of supporters of Eric Adams have criticized the strict standards of the program, which include high licensing fees and intense compliance rules. The proposed business squad can change the current scene of regulations.
The race countries to control assets via the Internet
The imperial state is not the only one to participate in encryption activities. With Arizona and Utah has already pushed the proposals to the level of the House of Representatives, more than 20 US states currently weigh legislation related to encrypted currencies.
Image: Gemini Imagen
Regarding the encryption market, this can be a legislative tsunami a positive result. The asset manager claims that all proposed state legislation was approved as a law that may cause $ 23 billion in the demand for bitcoin. More than 100 public institutions, including governments and companies, have started to accumulate Bitcoin as Hedging against inflation.
The environmental impact affects the lead center
Perhaps the most prominent of which is that the work squad will reach the environmental footprint of encryption operations. Looking at the increasing awareness of the use of the energy participated in it Bitcoin miningThis focus is crucial.
The Committee will compare the current legislative framework for New York with the current legislative framework with the framework of other countries, while considering the means of reconciling innovation with environmental supervision. The results of their findings may determine new criteria for environmentally friendly digital currencies.
Before the law became, the bill still suffers from major obstacles. The arguments in the Senate must be transferred, then gain the final gesture of the ruler. However, if it is approved, the work group members should be chosen within 90 days, which moves to the movement of what might be the most comprehensive examination in the state level of the digital currency and its effects on the state’s economy so far.
Their recommendations can be everything from consumer protection measures to long -term currency policies in one of the most financial centers in America.
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