Authorizes fiat-collateralized stablecoins as a form of bail; directs the commissioner of taxation and finance, in conjunction with the chief justice of the unified court system and the director of the office of information technology services, to promulgate rules and regulations identifying forms of fiat-collateralized stablecoin acceptable for posting bail to establish a system for the administration of the acceptance, recording and processing of stablecoins as a means of securing bail.
Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.
Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.
Adds to existing law to establish the Financial Accountability Stablecoin Transaction (FAST) Act to provide for the authorization and use of payment stablecoins.