PhyrexNi
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The state of New York has proposed a new bill aimed at criminalizing cryptocurrency fraud and 'rug pulls' to protect investors.
'Rug pull' refers to the situation where project teams suddenly withdraw funds, shut down the project, or abandon management of the project after boosting the price, resulting in significant losses for investors.
The bill classifies such actions as fraud, and those responsible may face criminal charges.
'Rug pull' refers to the situation where project teams suddenly withdraw funds, shut down the project, or abandon management of the project after boosting the price, resulting in significant losses for investors.
The bill classifies such actions as fraud, and those responsible may face criminal charges.
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