New York A10505 directs the superintendent of the department of financial services to study the use of bitcoin for purchasing life insurance and.
New York A10505 directs the superintendent of the department of financial services to conduct a study on the utilization of the cryptocurrency, bitcoin, for the purchasing of life insurance and annuities. The study will cover various aspects, including the qualification of bitcoin as an admitted asset, statutory authority for holding bitcoin as an investment, actuarial frameworks, capital and risk-based capital charges, policy and contract form standards, and protections for policyholders and contract holders.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.