New York congressman Latrice Walkerintroduced a new bill proposing that certain stablecoins be accepted as bail payments.
Walker has introduced a new bill that would allow dollar-pegged stablecoins to be accepted as a legal payment method for surety payments. Democrat Latrice WalkerThis bill, which was introduced on May 10, details pre-existing methods for making surety payments, including cash, insurance bonds, and credit cards, and aims to add fiat-backed stablecoins to the list.
It is not yet clear whether the bill will be accepted
The bill aims to amend the state’s current criminal procedure law to include the class of fiat-secured digital assets.
While it is not clear which stablecoins will take place in this context, it is not yet clear whether New York officials will accept this system. New bill, New York Attorney General Letitia JamesIt came just after May 5 proposed a new regulation that would allow the government to have more power over crypto exchanges.
Proposed legislation, new Yorkauthorities to issue subpoenas, impose civil penalties on crypto firms violating state laws, and shut down companies allegedly involved in fraudulent or illegal activities.
While the submission of this bill demonstrates the New York state government’s willingness to include stablecoins in its criminal justice code, James has been taking a hard line on cryptocurrencies in recent months.
James, former CEO of Celsius on Jan. Alex MashinskyHe filed a lawsuit against the Seychelles-based crypto exchange on March 9. KuCoinHe sued for selling securities and commodities without registering with .
