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AG James Slams GENIUS Act, Demands Stricter Crypto Regulations

7/3/2025

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Summary

Story summary

New York Attorney General Letitia James condemned the GENIUS Act for potentially increasing fraud risks for investors and the financial system.
She called for stricter regulations, advocating for stablecoin issuers to be treated like banks.
James opposed the Digital Asset Market Clarity Act, highlighting its risk of protecting malicious actors.
Both bills are under congressional review, with James stressing the importance of consumer protection.

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Story summary

New York Attorney General Letitia James condemned the GENIUS Act for potentially increasing fraud risks for investors and the financial system.
She called for stricter regulations, advocating for stablecoin issuers to be treated like banks.
James opposed the Digital Asset Market Clarity Act, highlighting its risk of protecting malicious actors.
Both bills are under congressional review, with James stressing the importance of consumer protection.