New York Attorney General Letitia James has urged Congress to strengthen federal oversight of cryptocurrency markets, arguing that existing gaps leave consumers vulnerable to fraud and financial losses. In testimony submitted to the Senate Permanent Subcommittee on Investigations, James said cryptocurrency scams have cost Americans billions of dollars and noted that complaints received by her office have tripled over the past three years. The Office of the Attorney General also reported nearly $500 million in cryptocurrency scam losses over the last five years in New York alone.
