NY S07824

Creates a new Article 191 in New York's penal law establishing three cryptocurrency-related crimes: virtual token fraud, illegal rug pulls, and private key fraud

Defines "rug pull" as when a developer makes material misrepresentations about a virtual token's development or purpose, then sells significant holdings or abandons the project, causing substantial loss in token value

Establishes penalties of up to $5 million in civil fines and/or up to 20 years imprisonment for individuals; corporations and other non-natural persons face fines up to $25 million

Criminalizes obtaining, disclosing, or misusing another person's private cryptographic key without their affirmative consent, with consent requiring a conspicuous, independent request that explains consequences

Takes effect 30 days after becoming law, with immediate authorization for agencies to develop implementing regulations