New York councilors have introduced legislation to protect cryptocurrency investors with the goal of a project insider suddenly abandoning the project and draining investor funds.
Representative Clyde Vanel, chairman of the New York Parliamentary Banking Committee, introduced the Bill A06515 Bill A06515 on Wednesday, March 5, which will prevent the creepto -ran scams and establish criminal punishment aimed at protecting investors from “rug grass.” Will.
According to this proposal, a new criminal charges for crimes related to “virtual token fraud” will be explicitly targeted only by Cryptocurrencies.
Bill A06515. Source: Assembly.state.ny.us
“Virtual token” refers to security tokens and stabble recons, and “security tokens” include all of the talented and impossible computer code that all forms of all those types of computer code determine through the verification of transactions or derivatives, which is stored in the peer -to -peer computer network.
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The bill is especially immediately after the Libra token, which is approved by Argentine President Javier Milei, was released immediately after the disappointment of Memecoins.
The insiders of the project had more than $ 170 million in the rugging pool, causing 94%of the price collapse in a few hours and reducing $ 4 billion in investor capital.
Libra token conflict. Source: KOBEISSI letter
The increasing wave of Solana -based Memecoin Scam led to “safety” by encryption capital flight, and in February, more than $ 485 million leaks for Solana.
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The rug must be “tightly away within the jurisdiction of the law enforcement.”
According to ANASTASIJA Plotnikova, co -founder and CEO of Blockchain Regulatory FIDEUM, the injury of Memecoin -related fraud suggests serious regulations.
The “obvious fraudulent activities”, such as the internal fraud and “not only non -ethical, are obviously illegal, and the case law to support execution,” added:
“In my opinion, these activities will fall firmly within the jurisdiction of the law enforcement agency.”
After the collapse of the Mile-Endorsed Libra token, especially Libra was a “open secret” of Memecoin Insider Circles, and some members of Jupiter Distribution were more problematic in that they knew about the token release two weeks ago.
https://www.youtube.com/watch?v=tvmmmj6rrR4SO
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