First Cryptocurrency Task Force In The U.S.

First Cryptocurrency Task Force In The U.S.

First Cryptocurrency Task Force In The U.S. -

Clyde Vanel, a New York Assemblyman, revealed launching of a special cryptocurrency task force. On January 3rd, the creation of the new group was announced via a Facebook post.

A month ago, Warren Davidson, a Republican member of the United States House of Representative, introduced a plan to regulate ICOs in the United States. Now, there is a new special group concerning on cryptocurrency industry.

Task Force for chasing crypto

Clyde Vanel, an NYS Assemblyman and Chair of Subcommittee on Internet and New Technologies, wrote a long post on his Facebook page, explaining purposes and goals of the new organization.

The task force is created to study how to correctly regulate, define and use cryptocurrency.

The post states that the members of the task force will be appointed by the Governor, Senate and Assembly, and they will be obligated to submit reports by December 15, 2020. The post expresses:

“The members will include stakeholders such as technologists, consumers, institutional and small investors, large and small blockchain enterprises and academics. The group shall report on digital currency, cryptocurrency and blockchain technology.”

Clyde Vanel said that New York is leading the country in finance and is set to also lead in fintech regulation. According to Vanel, the task force will help the city to achieve that. The group will also protect New York investors and consumers from any frauds or embezzlements.

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