New York State in the United States proposes a criminal bill related to cryptocurrency fraud

ChainCatcher news, the New York State Legislature is considering a new bill (A06515) aimed at establishing multiple criminal offenses related to cryptocurrency fraud.

The bill, introduced by Assemblyman Vanel, will add new provisions (Section 191 of Chapter K) to the New York State Penal Law, specifically defining types of offenses related to fraud in the cryptocurrency space, including: virtual token fraud, illegal "rug pulls" (where project teams abscond with funds), private key fraud, and fraud involving undisclosed interests in virtual tokens.