tldr; Manhattan District Attorney Alvin Bragg and New York State Senator Zellnor Myrie introduced the CRYPTO Act to impose criminal penalties on unlicensed cryptocurrency businesses in New York. The bill aims to address the growing underground economy and criminal activities facilitated by crypto. It proposes penalties ranging from misdemeanors to Class C felonies for businesses handling over $1 million in cryptocurrency annually. The act seeks to close enforcement gaps and deter unlicensed operations while maintaining existing licensing rules.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Odd-Radio-8500 on
Much needed one! It’s wiser to take action against them before more people fall victim to scams or shady operators.
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tldr; Manhattan District Attorney Alvin Bragg and New York State Senator Zellnor Myrie introduced the CRYPTO Act to impose criminal penalties on unlicensed cryptocurrency businesses in New York. The bill aims to address the growing underground economy and criminal activities facilitated by crypto. It proposes penalties ranging from misdemeanors to Class C felonies for businesses handling over $1 million in cryptocurrency annually. The act seeks to close enforcement gaps and deter unlicensed operations while maintaining existing licensing rules.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Much needed one! It’s wiser to take action against them before more people fall victim to scams or shady operators.
^(!tip 1)