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HomeInvestmentNew York AG’s office seeks additional authority over crypto firms By Cointelegraph

New York AG’s office seeks additional authority over crypto firms By Cointelegraph



Letitia James has reportedly proposed legislation that would give the New York Attorney General’s office more authority to regulate the crypto industry.

In a May 5 announcement, the NY AG’s office planned to submit a bill called the Crypto Regulation, Protection, Transparency and Oversight Act, or CRPTO, in the state’s 2023 legislative session. The proposed legislation would give New York officials the enforcement power to issue subpoenas, impose civil penalties for crypto firms violating state law, and shut down companies allegedly involved in fraud or illicit activities.