A New York state legislator has proposed a new bill that will accept stable currency associated with the US dollar as a reasonable and legal payment method for parole bonds
The Democratic bill proposed by New York State Democrat Lattice Weiser on May 10th provides a detailed description of the existing payment parole bond methods, including cash, commercial insurance bonds, and credit cards, attempting to include "legally pledged stable currency" on the roster.
The bill is committed to changing the state's existing criminal procedure law to include legally pledged digital currencies.
It is currently unclear what the most important "legally pledged stable currency" will be included in this new category, nor is it clear whether any stable currency has been deemed unacceptable by New York City officials.
On December 22, 2022, two loan guarantors signified that FTX founder Sam Bankman Fried submitted a ransom of $250 million to the Manhattan Federal Court, which allowed him to be held in harsh detention during a criminal trial on October 2.
Less than a week before the new bill was enacted, New York State Attorney General Leticia King proposed new policy regulations on May 5th that would grant the state further power over cryptocurrency exchanges.
The proposed law will grant high officials in New York City the right to issue court subpoenas, impose civil litigation penalties on cryptocurrency companies that violate state laws, and shut down companies suspected of participating in fraud or illegal activities.
Although the implementation of this bill indicates that the New York state government wants to include stable currencies in criminal law, Emperor Zhan has been cracking down on cryptocurrencies in the past six months.
On January 5th, Emperor Zhan filed a lawsuit against former CEO of Celsius, Alex Masingleoni. Recently, on March 9th, Emperor Zhan filed a lawsuit against Kuoin, a cryptocurrency trading center based in Seychelles, which sold securities and products without applying for registration.
Magazines and periodicals: How the following ZK induction of Ether becomes more and more interoperability