Tech:NYC Policy Alert

January 03, 2019 • Estimated Reading Time: 3 minutes

Policy Alert

We hope everyone had a great holiday season! The new year promises to be a busy one and here at Tech:NYC, we are looking forward to supporting tech's continued growth in New York. This year, we expect to see a number of relevant public policy developments in the state and city. To keep everyone updated, we will be sending out periodic Policy Alerts. And while it's only the third day of the year, we already have two alerts to share.

POLICY ALERT: NYS Digital Currency Task Force

In November, Tech:NYC convened a roundtable conversation with Assembly Member Clyde Vanel and our fintech working group. There, Assembly Member Vanel discussed pending legislation that would create a task force to study cryptocurrency and digital currency in New York. Over the holidays, the governor signed this legislation into law. The task force will consist of nine members, to be appointed by the governor and state legislature. By December 2020, the task force will issue a report examining relevant regulations and industries, and making legislative recommendations. You can see the full legislation here and read about it here. As you know, New York was one of the first states to adopt cryptocurrency regulations, when it implemented the widely unpopular bitlicense. This new task force will allow the tech community to offer recommendations on how to remedy the current regulatory scheme and ensure the state has a good framework for future innovation.

POLICY ALERT:Judge Blocks NYC Homesharing Law

Over the summer, the New York City Council passed a law requiring homesharing services (i.e., Airbnb) to share substantial amounts of listings data with the city. Despite significant privacy and Fourth Amendment concerns, the law was set to take effect next month.Airbnb and HomeAway filed suit to block this law, and Tech:NYC submitted an amicus brief in support. Today, the judge granted a request for a preliminary injunction and indicated the companies are likely to win the suit. You can read the ruling here.

If you have any questions about an alert and/or would like to engage on these issues, email Tech:NYC's Policy Director Zach Hecht.