New York Attorney General Letitia James submitted testimony to the Senate Committee on Homeland Security and Governmental Affairs' Permanent Subcommittee on Investigations, calling for stronger regulations on cryptocurrency platforms to protect consumers and investors from scams. The testimony details the flood of cryptocurrency scams costing Americans billions annually and criticizes the Digital Asset Market Clarity Act for undermining state enforcement efforts.
In-house legal teams should review vendor agreements with cryptocurrency platforms and intermediaries to ensure compliance with anti-money laundering (AML) and know-your-customer (KYC) requirements, as well as cybersecurity protocols. Clauses related to fraud prevention, platform liability for scams, and data tracing (e.g., prohibition on untraceable transactions) may need updating to align with the regulatory framework urged by the NY AG. Additionally, contracts should include provisions for transparency and reporting obligations to protect consumers and investors.
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New York Attorney General's Office
Industry
Financial ServicesOfficial Press Release
https://ag.ny.gov/press-release/2026/attorney-general-james-urges-congress-strengthen-oversight-cryptocurrency
cryptocurrency scams congressional testimony 2026 0
https://ag.ny.gov/sites/default/files/letters/cryptocurrency-scams-congressional-testimony-2026_0.pdf
New York Attorney General Enforcement Page
https://ag.ny.gov/press-releases
"New York Attorney General Letitia James"
"cryptocurrency scams costing Americans billions of dollars every year"
"Digital Asset Market Clarity Act"
"Electronic Funds Transfer Act"
New York Attorney General Letitia James joined eight other attorneys general in issuing a statement criticizing a DOJ judicial misconduct complaint against nearly all federal district court judges in Minnesota. The release concerns judicial independence, not a privacy enforcement action; it announces no penalty or privacy-related remedy.
New York Attorney General Letitia James issued guidance to New Yorkers donating to Venezuela earthquake relief, warning about fraudulent charities and scams. The guidance provides tips on verifying charities, avoiding phishing, and reporting suspicious organizations.
$2.6M
New York and Connecticut reached a settlement with Boston Children’s Health Physicians and its IT security provider, XTIUM, after a 2024 breach exposed private information of approximately 825,000 New York residents and 62,871 Connecticut residents. The companies will pay $2.64 million and implement enhanced cybersecurity measures; additional penalties are conditional on violating the settlement.
New York Attorney General Letitia James joined 16 other attorneys general in urging Congress to pass proposed legislation addressing the federal government’s release of Jeffrey Epstein-related records. The press release says DOJ has not fully disclosed the records required by the original law and that personal information of at least 43 victims was exposed in released files; this is a legislative advocacy announcement, not an enforcement action imposing a penalty or remedy.
$1.9M
New York Attorney General Letitia James secured a settlement after an investigation found Dollar General stores routinely charged customers more than advertised or posted prices and issued confusing receipts. Dollar General must donate $1.875 million in food and personal items to Foodlink and implement pricing, receipt, training, and audit reforms.
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