18 State Attorneys General, Led by New York, Urge Congress to Reject CLARITY Act, Citing Weaker Investor Protections
Summary
- Attorneys general from 18 U.S. states, including New York, urged Congress to vote against the CLARITY Act ahead of a procedural Senate vote.
- New York Attorney General Letitia James said the current CLARITY Act could empower fraudsters and strip state attorneys general of their authority to protect investors and their assets.
- The opposition came ahead of a procedural Senate vote on September 15 that will decide whether to begin formal consideration of the CLARITY Act.
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Attorneys general from 18 U.S. states, including New York, urged Congress to vote against the CLARITY Act ahead of a key procedural vote in the Senate on September 15.
The Block reported on September 14 that New York Attorney General Letitia James and 17 other state attorneys general sent a letter to Congress opposing the CLARITY Act.
James said the bill, in its current form, could empower fraudsters and strip state attorneys general of their authority to protect investors and their assets.
In the letter, she and her counterparts urged Congress not to pass the CLARITY Act.
The opposition came ahead of a procedural Senate vote on September 15 that will determine whether the chamber begins formal consideration of the CLARITY Act.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.