New York Attorney General: "Cryptocurrency Regulations Should Be Strengthened and Excluded from Retirement Funds"
Summary
- The New York Attorney General has reportedly urged Congress to strengthen regulations on cryptocurrencies.
- She stated that cryptocurrencies pose a threat to public financial stability and the financial market due to extreme price volatility.
- She emphasized that stablecoin issuers should have their headquarters in the U.S. and meet anti-money laundering standards.
The New York Attorney General has urged the U.S. Congress to strengthen regulations on cryptocurrencies.
According to Cointelegraph on the 11th (local time), Letitia James, the New York Attorney General, recently stated that "the U.S. Congress should strengthen regulations on cryptocurrencies and completely exclude them from retirement funds."
She pointed out that "cryptocurrencies can harm the financial stability of the public due to extreme price volatility and lack of intrinsic value." She also emphasized that the unchecked spread of cryptocurrencies could pose a serious threat to the status of the U.S. dollar, national security, and overall financial market stability. Accordingly, James urged that stablecoin issuers must have their headquarters in the U.S. and meet anti-money laundering (AML) standards.
Suehyeon Lee
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