18 U.S. Attorneys General Oppose CLARITY Act to Protect State Enforcement Powers

Eighteen U.S. state attorneys general have opposed the CLARITY Act, warning it could undermine state governments' ability to enforce virtual asset regulations and protect investors. The Wall Street Journal reported that New York Attorney General Letitia James and 17 other state attorneys general sent a letter to Congress ahead of an upcoming procedural vote on the bill.

Attorney General James argued that the current language of the proposed legislation could weaken existing state laws designed to safeguard investors and investigate cryptocurrency fraud.