ALBANY, N.Y. (AP) - New York state lawmakers say they want to know whether current regulations relating to cryptocurrencies like Bitcoin are up to the task of protecting consumers.
Democratic Sens. David Carlucci, of Rockland County, and Jesse Hamilton, of Brooklyn, have scheduled a hearing on the topic Friday in New York City.
The meeting is intended to examine the effectiveness of state and federal rules regarding the regulation and licensing of cryptocurrencies, a new type of international currencies that enable peer-to-peer transactions without a middleman.
The lawmakers say they will also look at the ways other states have chosen to regulate Bitcoin and other similar currencies, and review potential problems facing consumers who choose to use the new mediums of exchange.
(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
- NY lawmakers to review regulations on Bitcoin
- NY lawmakers to review economic impact of arts
- NY lawmakers to review Cuomo's local government plan
- NY lawmakers to review ways to improve voting process
- NY lawmakers to review oversight of for-profit colleges
- Bitcoin explained
- Capitol Watch: Lawmakers to review voting problems
- New Narcan regulations affect who can obtain it in NY
- NY legislation would regulate nail salon drying lamps
- NY OKs regulations for sports bets in 4 upstate casinos