N.Y. AG proposes tougher crypto regulations

The proposed CRPTO Act would codify the BitLicense program and address what Letitia James views as gaps in existing protections for investors.
FILE — New York Attorney General Letitia James speaks during a press conference, Sept. 21, 2022, in New York. Embattled electronic cigarette-maker Juul Labs Inc. will pay $462-million to six states and the District of Columbia, marking the largest settlement the company has reached so far for its role in the youth vaping surge, James said Wednesday, April 12, 2023. (AP Photo/Brittainy Newman, File)

New York Attorney General Letitia James (D) is proposing sweeping new regulations on the cryptocurrency industry that she says if adopted would be the toughest in the nation.

James released a 30-page draft bill Friday dubbed the Crypto Regulation, Protection, Transparency and Oversight Act that aims to protect investors while cracking down on bad actors.

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