Bitcoin Laws in New York

Imposes an excise tax on any taxpayer engaged in the trade or business of digital asset mining; provides that taxes, interest, and penalties collected or received from such taxes shall be used for prompt assistance to utility customers enrolled in energy affordability programs.

Imposes an excise tax on any taxpayer engaged in the trade or business of digital asset mining; provides that taxes, interest, and penalties collected or received from such taxes shall be used for prompt assistance to utility customers enrolled in energy affordability programs.

Establishes a two-tenths percent tax on digital asset transactions including the sale or transfer of digital assets to fund the expansion of the substance abuse prevention and intervention program to schools in upstate New York.

Establishes the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.

Requires certain disclosures by a developer of virtual tokens in advertisements involving such virtual tokens; provides restrictions concerning advertising.