Fiat-backed stablecoins could be used to post bail in New York under proposed bill

A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds. The partisan bill, introduced on May 10 by New York State Democrat Latrice Walker, details the pre-existing methods of paying bail bonds, including cash, insurance bonds and credit cards and seeks to add “fiat-collateralized stablecoins” to…