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NY Attorney General warns Clarity Act would dilute state crypto enforcement

Letitia James urged Congress to tighten the bill, arguing it would reduce states’ ability to pursue crypto fraud.

Reported · Written up by our desk · Regulation

The New York attorney general, Letitia James, urged Congress to make changes to the proposed Clarity Act for cryptocurrencies, warning the measure would weaken states’ power to police wrongdoing in the industry, according to The Block.

James said the bill would dilute states’ ability to go after fraud, as federal action faces growing pressure to better define or regulate crypto.

The warning highlights an enforcement tension between federal proposals and state regulators that oversee compliance efforts in their own jurisdictions.

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