We express our profound disappointment regarding Governor Kathy Hochul’s decision to veto the bipartisan bill S1891, which proposed the creation of a cryptocurrency and blockchain study task force. This veto represents a missed opportunity.

The formation of this task force was a pivotal step towards understanding and navigating the complex and rapidly evolving landscape of cryptocurrencies and blockchain technology. Its purpose was to ensure that New York remains at the forefront of innovation while protecting consumers and maintaining market integrity. The veto of this bill impedes New York’s ability to adapt to and shape the future of finance and technology.

We hope Governor Hochul will reconsider this decision, recognizing the critical need for informed and balanced regulation in the digital assets sector. The Digital Chamber’s commitment to advocating for smart, balanced regulation of digital assets remains unwavering. We will continue our efforts at every level – state, federal, and international – to champion regulations that foster innovation, ensure market stability, and protect the interests of all stakeholders in this dynamic industry.