New York State Democrat Latrice Walker has introduced a bill that proposes adding "fiat-collateralized stablecoins" to the list of acceptable forms of payment for bail bonds. The bill seeks to amend the state's current criminal procedure law to include this class of digital assets.

However, it is unclear which stablecoins would be included and if any would be deemed unacceptable by New York officials. This bill comes shortly after New York Attorney General Letticia James proposed new regulations that would grant the state more power over crypto exchanges.