New York Attorney General Letitia James has led a coalition of 18 attorneys general that opposed the passage of the Digital Asset Market Clarity Act in its current form.
They argue that the bill could limit states’ authority to combat crypto market fraud and protect investors. In particular, the Clarity Act could allow the SEC to preempt state-level regulation, including local requirements for registering crypto platforms.
The attorneys general called on Congress to preserve states’ authority to oversee the cryptocurrency industry and investigate violations.
Continue reading this article on source: ag.ny.gov