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New York State Attorney General writes to Congress opposing the inclusion of Crypto Assets in retirement plans
According to the Gate.io News bot, Cointelegraph reported that New York Attorney General Letitia James sent an open letter to U.S. Congressional leaders on April 10, proposing recommendations for strengthening federal regulation of the Crypto Assets industry.
James pointed out in the letter that Crypto Assets "have no intrinsic value" and are highly volatile, making them unsuitable as a retirement savings option. She also mentioned in the letter that unregulated Crypto Assets pose challenges to the dollar's dominance, national security, and the stability of financial markets.
Regarding regulatory measures, James suggested implementing specific requirements for stablecoin issuers, including establishing a physical presence in the United States and enforcing anti-money laundering compliance.