New York Attorney General Letitia James today called on Congress to implement stronger regulations on the cryptocurrency market to protect consumers and investors from scams. In written testimony delivered to the Senate Committee on Homeland Security and Governmental Affairs’ Permanent Subcommittee on Investigations, Attorney General James details the flood of cryptocurrency scams costing Americans billions of dollars every year.

“My office has been leading the fight against cryptocurrency fraud. Our rules-based market system gives people confidence that they can do business here. Without adequate laws and regulations, financial crises ensue. We urge Congress to safeguard our financial markets and protect America’s investors, their future, our economy, and national security.” – AG James