coin-img-ETHETH+4.67%coin-img-ZAMAZAMA+85.00%coin-img-HYPEHYPE+12.21%coin-img-MOLTMOLT+70.95%coin-img-XAUTXAUT+0.84%coin-img-ASTERASTER+6.78%coin-img-BTCBTC+3.21%coin-img-SOLSOL+5.47%coin-img-ETHETH+4.67%coin-img-ZAMAZAMA+85.00%coin-img-HYPEHYPE+12.21%coin-img-MOLTMOLT+70.95%coin-img-XAUTXAUT+0.84%coin-img-ASTERASTER+6.78%coin-img-BTCBTC+3.21%coin-img-SOLSOL+5.47%coin-img-ETHETH+4.67%coin-img-ZAMAZAMA+85.00%coin-img-HYPEHYPE+12.21%coin-img-MOLTMOLT+70.95%coin-img-XAUTXAUT+0.84%coin-img-ASTERASTER+6.78%coin-img-BTCBTC+3.21%coin-img-SOLSOL+5.47%coin-img-ETHETH+4.67%coin-img-ZAMAZAMA+85.00%coin-img-HYPEHYPE+12.21%coin-img-MOLTMOLT+70.95%coin-img-XAUTXAUT+0.84%coin-img-ASTERASTER+6.78%coin-img-BTCBTC+3.21%coin-img-SOLSOL+5.47%
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NY prosecutors target GENIUS Act, allege Tether and Circle earned $1B each in 2024

On Monday, New York Attorney General Letitia James and four district attorneys sent a letter challenging the GENIUS Act, alleging it gives stablecoin issuers legal cover and leaves fraud victims without restitution. The prosecutors say Tether and Circle each earned $1 billion in 2024 from reserve investments, and cite extensive freezes of USDT and USDC.
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