Stablecoin Law: Fraud’s New BFF? 😱
According to a letter that’s hotter than a subway platform in August, first spilled by CNN’s Allison Morrow, James and her crew (including Manhattan DA Alvin Bragg, who’s probably juggling this with his other 47 jobs) are calling out the GENIUS Act for being more like the “Oops, We Forgot to Protect Victims Act.” They argue it gives stablecoins a shiny “imprimatur of legitimacy” without bothering to add the necessary guardrails to stop terrorism financing, drug trafficking, money laundering, and cryptocurrency fraud. Because who needs safeguards when you can just call it “genius,” right?





