The New York Attorney General’s Office (NYAG) has introduced legislation aimed at protecting cryptocurrency investors from fraud. The proposed bill would require companies dealing in digital currencies to adhere to certain standards and disclose key information to their investors.

According to the update from the NYAG, Letitia James, the law will force cryptocurrency firms to refund victims of fraudulent activities. That means any company dealing in cryptocurrencies will reimburse customers who fall victim to scams or hacking attacks. Interestingly, this move is seen as an attempt by lawmakers to protect consumers from risks associated with investing in digital currencies.