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The federal CLARITY Act could restrict state crypto enforcement authority and leave users of digital asset platforms without adequate consumer protections, New York Attorney General Letitia James warned.
James challenges the bill's reach The CLARITY Act is a federal crypto market structure bill. James said the legislation risks curtailing what state regulators can do in digital asset markets.
Her statement is a formal objection from one of the country's most active state enforcement offices, signaling concern about federal law displacing state-level oversight.
James did not identify in her statement which specific provisions she considers most damaging to state enforcement capacity, or whether her office has proposed changes to the bill.
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