Bipartisan Coalition of 17 State Attorneys General Opposes Clarity Act
Source Summary
A bipartisan group of 17 state attorneys general has urged the Senate to reject the Clarity Act, citing concerns that the cryptocurrency legislation could restrict their authority to prosecute securities and commodities cases related to online scams. The state officials worry the bill would limit their enforcement capabilities in protecting consumers from fraud.
Why it matters
State attorneys general enforcement authority over crypto-related fraud cases could be significantly curtailed if the Clarity Act passes, affecting consumer protection at the state level.
