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New York Attorney General Letitia James has called for stricter stablecoin regulations, urging Congress to ensure issuers are regulated like banks and have FDIC insurance. She argues current bills lack necessary investor protections.
- Letitia James advocates for stablecoin issuers to be regulated similarly to banks and required to have FDIC insurance.
- She warns that current bills (STABLE Act and GENIUS Act) lack critical investor protections and systemic risk safeguards.
- James stresses the need for Congress to prioritize both innovation and financial stability in crypto legislation.
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