New York AG Renews Push for Crypto Oversight After Gemini Lawsuit
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New York AG Letitia James renews push for crypto legislation after suing Gemini and Digital Currency Group. Aims to expand AG office's oversight alongside DFS.
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Bill initially proposed in May but failed to get a sponsor. Faced industry opposition and concerns about undermining DFS.
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AG office using Gemini lawsuit, over collapsed Earn product, to argue for expanded powers. Points to DFS approving Gemini Earn despite risks.
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Crypto industry views lawsuit as counterproductive and rushed. Concerns about complications for Genesis bankruptcy proceedings.
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Power struggle looming next legislative session between AG office and DFS over crypto regulation in New York. AG has lawmaker support but needs sponsor.