NY AG Letitia James calls for stronger regulations for stablecoin issuers to protect investors

From Cointelegraph
July 1, 2025 11:53:00 pm:

New York Attorney General Letitia James urges Congress to enhance stablecoin and crypto legislation, saying current bills lack investor protection. The STABLE Act and GENIUS Act are criticized for lacking regulatory safeguards against criminal activity and fraud. James wants stablecoin issuers regulated like banks to reduce systemic risk and protect consumers. Proponents argue the bills will safeguard the dominance of the US dollar. James also criticizes the CLARITY Act for protecting bad actors and lacking fraud prevention measures. She has a history of taking action against digital assets, previously urging Congress to prevent crypto investments in US retirement funds. James has sued several crypto companies and exchanges during her tenure.

Read more at Cointelegraph: NY AG Urges Congress Boost Rules For Stablecoin Issuers