Search results for Letitia James
Crypto
New York state sues Coinbase, Gemini over alleged unlicensed prediction markets
New York state filed a lawsuit against cryptocurrency exchanges Coinbase and Gemini over prediction-market contracts. The state alleges the products, tied to sports, entertainment and elections, are unlicensed gambling that violates state law. Attorney General Letitia James said renaming gambling does not change its nature and cannot evade regulation. The complaint says the services functioned like bookmakers and allowed participation by users under 21.
Crypto
U.S. CFTC eases rules on political, sports prediction markets; state enforcement tightens
The U.S. Commodity Futures Trading Commission has eased its approach to prediction markets on political and sports outcomes. Chair Michael Selik said the agency will withdraw a Biden-era prohibition on political and sports contracts and revoke a related 2025 regulatory alert. He said the CFTC will pursue responsible innovation and regulatory clarity and develop guidance based on the Commodity Exchange Act. State-level enforcement is tightening, including actions in New York, Nevada and Connecticut.
AI & Enterprise
New York prosecutors warn GENIUS Act could enable financial fraud
New York Attorney General Letitia James and four local prosecutors warned that the U.S. federal stablecoin bill known as the GENIUS Act could allow financial fraud to go unchecked, Cointelegraph reported on Sunday, citing CNN. They said the law could provide legal protection to stablecoin issuers and be abused for scams. They also criticised Tether and Circle. Tether said it has no legal duty to freeze or return all transactions.