Just two weeks after the U.S. Securities and Exchange Commission (SEC) opened its cyber division to combat digital fraud, the New York State Assembly is considering bill A06515 to combat cryptocurrency fraud.
the bill was proposed on March 5 and provides
"Virtual #Token Fraud, It seeks to create "offenses related to illegal carpetbagging, #private key fraud, and fraudulent failure to disclose interest in virtual tokens.
Bill A06515 speaks to the potential of #blockchain , but seeks "regulations consistent with the spirit of blockchain and the need to combat fraud.
The bill lists #DeFi applications such as storing and moving money, investing, creating art and voting, and praises the technology for propelling us to the "cutting edge of the future.
The bill also mentions token fraud, equating private key fraud with debit card PIN theft. The bill also mentions private key fraud, equating private key fraud to the theft of debit card PINs.
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