New York AG Letitia James Reinforces Crypto Crackdown with $2 Billion Genesis Settlement

New York AG Letitia James Reinforces Crypto Crackdown with $2 Billion Genesis Settlement



New York Attorney General Letitia James is intensifying her scrutiny of the cryptocurrency sector, emphasizing the need for industry compliance with regulatory standards. On May 25, James asserted on her official X account, "We will go after those that don’t."



A Legacy of Enforcement



Since taking office in 2018, James has built a formidable record of enforcement actions against crypto firms. In 2019, she initiated a prolonged legal battle with Tether, the issuer of the USDT stablecoin, and the Bitfinex exchange, culminating in an $18.5 million fine. Her aggressive stance continued with actions against companies such as KuCoin and Coinseed, the former agreeing to a $22 million settlement in December 2023. These efforts have cemented James' reputation as a vigilant regulator, ensuring that cryptocurrency entities operate within l


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #LetitiaJames, #NewYork, #News, #Regulations

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