Cryptocurrency News
NY Sen. Thomas proposes to criminalize rug pulls and other crypto frauds
2022.04.24 10:47
NY Sen. Thomas proposes to criminalize rug pulls and other crypto frauds
New York State Senator Kevin Thomas introduced a new bill amendment request to establish certain offenses related to rug pulls and other frauds related to virtual token distribution, misuse of private keys and hidden interests in crypto projects.
The bill drafted by Sen. Thomas, Senate Bill S8839, calls for defining, penalizing and criminalizing frauds specifically targeted at developers and projects that intend to dupe crypto investors.
A snippet of Senate Bill S8839. Source: nysenate.gov
