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Cryptocurrency News

NY Sen. Thomas proposes to criminalize rug pulls and other crypto frauds

04/24/2022

Less than a minute

2022.04.24 10:47

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

Source

04/24/2022

Less than a minute