New York State Legislature introduced Assembly Bill 7024, promoting the acceptance of stablecoins as a valid form of bail payment. Read more on CE.
- The New York State Legislature introduced Assembly Bill 7024 authorizing stablecoins as a valid form of bail.
- The bill followed General Attorney Letitia James’ proposal for crypto regulations.
- The authority promotes the establishment of digital assets, integrating them into the traditional financial system
New York has proposed the authorization of fiat-backed stablecoins, facilitating the acceptance of stablecoins as a valid form of payment for bail. The New York State Legislature introduced Assembly Bill 7024 on May 10, in an attempt to advance crypto-focused regulations with the objective of digital asset development.