**[New York Attorney General and 17 States Oppose the Clarity Act]** New York Attorney General Letitia James, along with attorneys general from 17 states and the District of Columbia, sent a letter to the U.S. Senate opposing the Clarity Act. They argue that the bill undermines states' authority to combat cryptocurrency fraud and grants unilateral power to the SEC. FBI data shows that cryptocurrency-related complaints are projected to result in losses of $11.4 billion by 2025, while New York State alone reported nearly $5 billion in crypto scam losses over the past five years. The attorneys general urge Congress to amend the bill to preserve states' enforcement and registration regulatory authority over crypto assets. (Source: New York Attorney General's Office)