Albany, NY — November 24, 2025— The New York State Ways & Means Committee today announced the establishment of the Advisory Committee on Cryptocurrency and Digital Finance, a strategic initiative designed to address the growing role of digital assets in the state’s economy. The new advisory committee will focus on developing laws, tax structures, and regulatory frameworks to ensure a safe, transparent, and equitable environment for cryptocurrency users, investors, and businesses operating in New York State.

The Chair of Ways and Means J. Gary Pretlow has appointed Dr. Charles E. Williamson as Chair of the Advisory Committee on Cryptocurrency and Digital Finance. Dr. Williamson brings over 20 years of leadership experience in financial technology, operations, and legal advisement, making him uniquely qualified to guide the State’s approach to this emerging sector. His extensive background in structuring operations and policy frameworks within fintech and legal sectors positions him to lead with both foresight and pragmatism as New York develops a balanced approach to innovation and public accountability.

The Advisory Committee on Cryptocurrency and Digital Finance will advise the broader Ways &Means Committee, which is responsible for reviewing and recommending budgetary and revenue-related policy for the State of New York. Given the rising economic influence of digital assets, this subcommittee will examine the fiscal implications of cryptocurrency taxation, regulatory oversight, and its potential role in revenue generation and market stability.

Objectives of the Advisory Committee:

1. Establish Clear Legal and Tax Frameworks – Develop tax policy for trading, mining, point of sale systems, and income earned through cryptocurrencies, ensuring compliance and transparency.

2. Enhance Consumer and Investor Protections – Recommend regulations to safeguard consumers and prevent financial misconduct or fraud in crypto markets.

3. Promote Responsible Innovation – Encourage blockchain-based entrepreneurship while maintaining strong regulatory oversight.

4. Public Consultation and Education – Engage New Yorkers through town halls, expert sessions, and educational campaigns to ensure inclusive policy development.

The advisory committee will be composed of legal experts, financial professionals, blockchain technologists, cyber security experts, and consumer representatives. Together, they will draft proposals for legislative consideration that balance economic opportunity with fiscal responsibility.

Chair Williamson and his team are expected to begin research and public consultations immediately, followed by the development of a comprehensive draft framework for state cryptocurrency policy to be reviewed by the Ways and Means Committee in 2026.