NY attorney general urges Congress to keep pensions crypto-free — ‘No intrinsic value’
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Letitia James has rallied Congress to support stopping US retirement funds from investing in crypto or crypto ETFs, which she claimed have “no intrinsic value.”
New York Attorney General Letitia James has sent a letter to US congressional leaders urging “common sense” federal crypto regulations and to keep digital assets out of US pensions.
“I am urging Congress to pass legislation that would strengthen federal regulations on the cryptocurrency industry to protect investors, strengthen financial markets, and stop fraud,” James said in a 14-page letter shared on April 10, outlining six major risks if the sector remains unregulated.
She said that without appropriate safeguards, the “unchecked proliferation of digital assets” undermines US dollar dominance, weakens national security due to criminal activity, and “undermines the stability of financial markets.”
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