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<ul><li>The New York State Legislature introduced Assembly Bill 7024 authorizing stablecoins as a valid form of bail.</li><li>The bill followed General Attorney Letitia James’ proposal for crypto regulations.</li><li>The authority promotes the establishment of digital assets, integrating them into the traditional financial system</li></ul>New York has <a href="https://legiscan.com/NY/text/A07024/id/2804773" rel="noopener noreferrer nofollow">proposed</a> the authorization of fiat-backed stablecoins, facilitating the acceptance of <a href="https://coinedition.com/what-is-a-stablecoin/" rel="noopener noreferrer nofollow">stablecoins</a> 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.<a href="https://coinedition.com/ny-authorizes-stablecoins-as-a-form-of-bail-assembly-bill-7024/" rel="noopener noreferrer nofollow">See the Original CoinEdition</a>

NY Authorizes Stablecoins as a Form of Bail: Assembly Bill 7024

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