NY AG Leads 18-State Coalition Opposing CLARITY Act
New York AG Letitia James announced a bipartisan coalition of 18 attorneys general opposing the CLARITY Act, warning its then-current language could undermine state anti-fraud enforcement. The coalition's position, not an adjudicated legal effect.
PARADIGM INSIGHTS:
A federal digital-asset bill should tell a harmed holder exactly which public enforcer can act, even when a transaction crosses borders or uses a private forum. The attorneys general warn that the proposed CLARITY Act could narrow state anti-fraud authority; that is their position, not a court's ruling. Private dispute resolution can hear a claim, but it cannot recreate a public power that legislation removes.
Sources
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