Summary
- Letitia James, the New York Attorney General, urged lawmakers to pass federal regulations on virtual assets.
- She emphasized the need for domestic issuance and regulation of stablecoins to maintain the dominance of the US dollar, citing the widespread adoption of Bitcoin as a threat.
- She also expressed opposition to virtual asset investments through retirement accounts.
Letitia James, the New York Attorney General, sent letters to several lawmakers urging the passage of federal regulations on virtual assets (cryptocurrencies) to prevent fraud and criminal activities and to mitigate financial instability.
According to Eleanor Terrett's X (formerly Twitter) account, the host of Crypto in America, she stated, "The widespread adoption of Bitcoin (BTC) threatens the dominance of the US dollar," emphasizing the need to issue and regulate stablecoins domestically to maintain the dollar's dominance.
Additionally, she expressed opposition to investing in virtual assets through retirement accounts.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
