New York Assembly Reviews Bill A06515 to Combat Crypto Fraud
- Bill A06515 targets cryptocurrency fraud, including rug pull schemes and virtual token fraud.
- Penalties for individuals include fines up to $5 million and/or up to 20 years in prison.
- Legal entities could face fines up to $25 million for fraudulent activities.
- The bill was introduced by Assembly member Clyde Vanel.
The New York State Assembly is considering Bill A06515, which imposes severe penalties on cryptocurrency fraud, such as rug pull schemes. Individuals may face fines of up to $5 million or a 20-year prison term. Legal entities could be fined up to $25 million.
Source (2.6)https://hodl.press/new-york-considers-bill-to-criminalize-crypto-rug-pulls/?rand=24434
