Regulates bounty websites offering meme currency in exchange for tasks, ensuring compliance with New York state law.

The bill amends the general business law to regulate bounty websites that offer meme currency in exchange for completing tasks. It defines "meme currency" as a category of cryptocurrency deriving value from internet culture and social media. The bill mandates that such platforms remove any bounties requiring users to violate New York state labor or penal laws. Violations are subject to civil penalties, with escalating fines for subsequent offenses. The attorney general is authorized to ensure compliance and take legal action against non-compliant platforms.

Regulates bounty websites offering meme currency in exchange for tasks, ensuring compliance with New York state law.

The bill amends the general business law to regulate bounty websites that offer meme currency in exchange for completing tasks. It defines "meme currency" as a category of cryptocurrency deriving value from internet culture and social media. The bill mandates that such platforms remove any bounties requiring users to violate New York state labor or penal laws. Violations are subject to civil penalties, with escalating fines for subsequent offenses. The attorney general is authorized to ensure compliance and take legal action against non-compliant platforms.