New York A 7807: Authorizes fiat-collateralized stablecoins as a form of bail

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A07807 Summary:

BILL NOA07807 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORWalker

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §520.10, CP L

&nbsp

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.

Go to top A07807 Actions:

BILL NOA07807 

&nbsp

04/11/2025referred to codes

01/07/2026referred to codes

Go to topA07807 Committee&nbspVotes:

Go to topA07807 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07807 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7807

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 11, 2025
 ___________

 Introduced by M. of A. WALKER -- read once and referred to the Committee
 on Codes

 AN ACT to amend the criminal procedure law, in relation to authorizing
 fiat-collateralized stablecoins as a form of bail; and 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 establish a system and regulations
 for the acceptance of stablecoins as bail

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 520.10 of the criminal procedure law, paragraph (i)
 2 of subdivision 1 as amended by chapter 457 of the laws of 2005, subdivi-
 3 sion 2 as amended by chapter 784 of the laws of 1972 and paragraph (b)
 4 of subdivision 2 as amended by section 10 of part JJJ of chapter 59 of
 5 the laws of 2019, is amended to read as follows:
 6 § 520.10 Bail and bail bonds; fixing of bail and authorized forms there-
 7 of.
 8 1. The only authorized forms of bail are the following:
 9 (a) Cash bail.
 10 (b) An insurance company bail bond.
 11 (c) A secured surety bond.
 12 (d) A secured appearance bond.
 13 (e) A partially secured surety bond.
 14 (f) A partially secured appearance bond.
 15 (g) An unsecured surety bond.
 16 (h) An unsecured appearance bond.
 17 (i) Credit card or similar device; provided, however, that notwith-
 18 standing any other provision of law, any person posting bail by credit
 19 card or similar device also may be required to pay a reasonable adminis-
 20 trative fee. The amount of such administrative fee and the time and
 21 manner of its payment shall be in accordance with the system established

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06392-01-5

 A. 7807 2

 1 pursuant to [subdivision four of section 150.30 of this chapter or]
 2 paragraph (j) of subdivision two of section two hundred twelve of the
 3 judiciary law, as appropriate.
 4 (j) Fiat-collateralized stablecoins; provided, however, that this
 5 paragraph shall not be construed to compel any person, firm or corpo-
 6 ration subject to the provisions of article sixty-eight of the insurance
 7 law to accept stablecoins or any other cryptocurrency for the posting of
 8 a bond.
 9 2. The methods of fixing bail are as follows:
 10 (a) A court may designate the amount of the bail without designating
 11 the form or forms in which it may be posted. In such case, the bail may
 12 be posted in either of the forms specified in paragraphs (g) and (h) of
 13 subdivision one[;]of this section.
 14 (b) The court shall direct that the bail be posted in any one of three
 15 or more of the forms specified in subdivision one of this section,
 16 designated in the alternative, and may designate different amounts vary-
 17 ing with the forms, except that one of the forms shall be either an
 18 unsecured or partially secured surety bond, as selected by the court.
 19 (c) If the court directs that bail be posted as provided in paragraph
 20 (j) of subdivision one of this section and the value of the stablecoins
 21 falls more than fifty percent from the value of the stablecoins at the
 22