New York warns Clarity Act could weaken crypto fraud enforcement

From tradersunion.com

As reported by The Block, James says in written testimony submitted Monday to the Senate Homeland and Governmental Affairs permanent subcommittee that the Clarity Act would undermine New York's long-standing role in crypto oversight and weaken other states' regulatory authority. She argues the bill would interfere with and preempt state investor protection laws while diluting the ability of state authorities to prosecute fraud. James also says state and local agencies carry out much of the country's law enforcement work, making those powers critical to policing the digital asset sector. Federal crypto debate faces ... (full story)