New York AG warns CLARITY Act could weaken state crypto enforcement

According to Cointelegraph, New York Attorney General Letitia James expressed concerns that the proposed Digital Asset Market Clarity Act could diminish state regulatory powers over cryptocurrency, thereby hampering efforts to combat scams. In her testimony, she highlighted a surge in crypto scam complaints and urged Congress to enhance consumer protections, including stricter oversight and accountability measures for crypto platforms. She also emphasized the need for compliance with anti-money laundering and cybersecurity standards. Read the full story at Cointelegraph . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human writing — new writers keep 100% of tips and collects for their first 90 days.