Establishes the offenses of virtual token fraud, illegal rug pulls, and private key fraud.

New York A06515 amends the penal law by adding a new article titled "Crypto Fraud." It defines "virtual tokens" as digital assets on a blockchain and "class" as a group of fungible or non-fungible tokens. The bill establishes offenses including virtual token fraud, illegal rug pulls, and private key fraud. Virtual token fraud involves deceptive practices related to virtual tokens. Illegal rug pulls occur when developers abandon projects, causing significant token value loss. Private key fraud involves obtaining or disclosing another's private key without consent.

Establishes the offenses of virtual token fraud, illegal rug pulls, and private key fraud.

New York A06515 amends the penal law by adding a new article titled "Crypto Fraud." It defines "virtual tokens" as digital assets on a blockchain and "class" as a group of fungible or non-fungible tokens. The bill establishes offenses including virtual token fraud, illegal rug pulls, and private key fraud. Virtual token fraud involves deceptive practices related to virtual tokens. Illegal rug pulls occur when developers abandon projects, causing significant token value loss. Private key fraud involves obtaining or disclosing another's private key without consent.