New York vies to lead way on cryptocurrency regulation
By 
Adrianne Appel2023-05-08T20:05:00
New York would be the first state in the nation to comprehensively regulate cryptocurrency under a sweeping bill introduced by Attorney General Letitia James on Friday.
The Crypto Regulation, Protection, Transparency, and Oversight Act would “bring law and order” to the industry by granting new authority to the New York State Department of Financial Services (NYDFS) to regulate cryptocurrency assets and exchanges, James said in a press release.
“Millions of investors have lost hundreds of billions in the value of their cryptocurrency investments because of rampant fraud, including market manipulation, hacking, and opaque business practices,” the release said.
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