New York AG Letitia James Warns Stablecoin Law Fails to Protect Fraud Victims

New York Attorney General Letitia James and four district attorneys warned that the GENIUS Act gives stablecoin issuers legal cover to profit from fraud while failing to require the return of stolen funds to victims. According to the letter, first reported on by CNN’s Allison Morrow, addressed to Senate Democratic leaders, James and prosecutors including