New York Launching a New Crypto Task Force to Better Understand Cryptocurrencies is a Big Deal

2019-1-3 20:03

New York State has decided to form a new task force that will be providing insights about virtual currencies and blockchain technology. The main purpose of this task force is to better understand how cryptocurrencies work, how it is possible to use them and how to leverage blockchain technology.

The decision has been taken by Governor Andrew Cuomo that signed a bill creating the task force. The information was released in a press release a few days ago. Assemblyman Clyde Vanel is the individual sponsoring this bill.

This task force will include technologists, consumers and large and small investors. There will also be some academics, enterprises and other individuals from different sectors. This panel is going to be working analysing the crypto space and presenting a report on December 15, 2020.

The report can help the state regulate, define or use virtual currencies. It will also provide information about how to better regulate the space. The report is also going to discuss points such as tax collection and many other aspects.

New York has already established the so-called BitLicense that has only been given only to 14 companies in the crypto space. The new proposal does not propose any modification to the current BitLicense and laws. However, Vanel’s recommendation shows that the crypto industry has substantially changed since the regulation was implemented.

On the mater, he said:

“The task force experts will help us strike the balance between having a robust blockchain industry and cryptocurrency economic environment while at the same time protecting New York investors and consumers.”

The task force was proposed by Vanel back at the end of 2017 when the virtual currency market was reaching new all-time highs. Bitcoin (BTC) was traded at that time close to $20,000. With the new proposal, the intention is to balance consumer protection and encourage innovation.

Regulatory agencies all around the world are starting to take different measures to control the cryptocurrency market and avoid the spread of scams and fraudulent actors. The U.S. Securities and Exchange Commission (SEC) has been taking several measures to protect users that are investing in Initial Coin Offerings (ICOs). The SEC has already announced enforcement actions against different ICOs in the space.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0031215 (-100%)

new force task technology blockchain cryptocurrencies understand

new force → Результатов: 110


Фото:

IBM Study: 62% of Automotive Execs Believe Blockchain Will Be a Disruptive Force in the Auto Industry

Though blockchain use is still in its infancy in the automotive industry, a handful of companies are pioneering its adoption, believing that the technology will radically transform the sector. According to a new study by IBM, 62% of automotive executives are convinced that blockchain will be a disruptive force in the auto industry by 2021, […] The post IBM Study: 62% of Automotive Execs Believe Blockchain Will Be a Disruptive Force in the Auto Industry appeared first on Coinjournal.

2018-12-13 13:09


Air Force Institute Of Technology (AFIT) Offers New Demo Tool Website To Educate On Blockchain

Blockchain technology has come a long way from Bitcoin. The multiple use cases in the industry today make it possible for this technology to be the true gift that comes from cryptocurrency. However, as with any new technology, there needs to be developers that can stimulate progress. In a new report from Modern Materials Handling […]

2018-12-5 07:55


Фото:

Op Ed: From Gray To Black and White: Traditional Regulations Come to Crypto

For nearly a decade, participants in the blockchain and cryptocurrency space have operated in a regulatory compliance gray zone. Recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront.

2018-12-3 19:20


BEXAM ICO

BEXAM is built on a new consensus-building algorithm called Proof of Rounds. PoR reconciles high speed and scalability with high security. Our next generation blockchain technology finally meets the specifications required for the implementation of blockchain into core centralized systems of large-scale businesses.

2018-12-3 13:35


Фото:

A Bug Making Ethereum Transactions on Exchanges Vulnerable Has Been Fixed

A bug centering around a new Ethereum token, GasToken, which was enabling abuse on cryptocurrency exchanges, appears to have been resolved. The details are provided in a report originally published on November 13, 2018, that discussed how the bug was exploited by attackers, and what digital platforms could do if they wished to protect their hot wallet funds.

2018-11-22 00:34


Фото:

Facebook Ad Library: Only 3 “Brexit” ads for whole month. Yeah, right!

Facebook may well look back on 2018 as its annus horribilis. From the Cambridge Analytica  scandal in March, to a data breach affecting 29 million users in September, from accusations of fraud over misrepresentation of video viewing figures, to claims that it is destroying the very fabric of society, the social network’s reputation has suffered a battering.

2018-11-1 19:05


Фото:

Facebook Ad Library: Only 3 ‘Brexit’ ads for whole month. Yeah, right!

Facebook may well look back on 2018 as its annus horribilis. From the Cambridge Analytica  scandal in March, to a data breach affecting 29 million users in September, from accusations of fraud over misrepresentation of video viewing figures, to claims that it is destroying the very fabric of society, the social network’s reputation has suffered a battering.

2018-11-2 19:05


Фото:

China Wants To Stop Anonymous Blockchain Use: Reports

New cybersecurity rules currently out for public consultation in China would notionally force users to provide their real identity to use any kind of Blockchain-based service. Blockchain? You’ll Need Your Name And ID As South China Morning Post (SCMP) reports quoting local media sources, the Cyberspace Administration of China is currently seeking feedback on the proposals, the deadline for which is November 2.

2018-10-22 15:00


Фото:

Stackr: The Dawn of a Digital Asset Savings Solution - [BTC Media Sponsor]

Financial savings have long been the foundation of wealth and asset building. However, we are now in a time when the growing obsolescence of financial institutions has forced certain technologies out of date, created high fees, revealed structural inefficiencies and, ultimately, meant that some standard investment solutions now fail to place consumer needs first.

2018-10-6 16:37


Financial Action Task Force (FATF) Seeks New AML Cryptocurrency Standard Agreement

The Financial Action Task Force is an organization that includes multiple governments that aim to reduce the risk of money laundering through their regulations and protocols. The organization was founded in 1989, and their most recent development seems to be the goal of creating a set of standards that concern cryptocurrency. This new endeavor has […]

2018-9-20 07:20


Фото:

Status Pushes Out Renegade dApps with New Browser Standard

On the heels of the industry’s latest push to protect users, one of the top Ethereum mobile clients, Status, is implementing a new interoperability standard to “drastically improve user privacy.” Where decentralized apps (dApps) once had autonomous access to users’ Ethereum accounts within the browser, Status will now force all applications to request permission, according […] The post Status Pushes Out Renegade dApps with New Browser Standard appeared first on CryptoSlate.

2018-9-7 14:00


Фото:

South Korea: Trading Volume Soars as Bithumb Reopens to New Customers

Major South Korean cryptocurrency exchange Bithumb has announced it will resume accepting new user accounts after resolving a dispute with its banking partner. Month-Long Impasse Ends As local news media outlet Yonhap reports August 29, Bithumb has come to an agreement with Nonghyup Bank, which in July stopped serving it, reportedly due to the exchange’s recent hack in which it lost over $30 million.

2018-8-29 16:00