Wire · regulatory
New York AG Letitia James Opposes the Crypto Bill Coinbase Wants Passed August 3
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Fusion42 · 28 July 2026 · Fusion42 review
New York AG Letitia James opposes the Digital Asset Market Clarity Act, arguing it would strip state-level crypto oversight and leave scam victims unprotected; the bill centralises rulemaking to the federal CFTC whilst crypto fraud losses topped $11.4 billion in 2025. Coinbase is pushing for a Senate vote by 3 August, but the maths don't yet work.
This Wire brief sits within Fusion42's coverage of Crypto & Web3, and 35 sources have reported it between 21 Jul 2026 and 11 Sep 2026.
◆ ◆ The Wire takeaway
The Clarity Act just hit real opposition - not from crypto enemies, but from the people who catch the criminals. If this bill passes, the 99% of fraud cases prosecuted by state AGs disappears into a federal CFTC that's already closed 1,000 investigations and dropped seven crypto cases. Your compliance today depends on whether New York keeps its enforcement teeth.
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35 sources · first reported 21 Jul 2026 · latest 11 Sep 2026
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