15 State Attorneys General Oppose Cryptocurrency Regulation Bill

A bipartisan coalition of attorneys general from 15 states has written to the US Senate Committee on Banking, Housing and Urban Affairs to express opposition to the Digital Asset Market Clarity Act.

The law, if passed, could weaken states' ability to combat cryptocurrency fraud and protect investors, according to Maryland Attorney General Anthony G. Brown.

The coalition argued that the bill would restrict state enforcement authority and allow the Securities and Exchange Commission to preempt state registration requirements.

The attorneys general cited figures from 2025 showing $11.4 billion in cryptocurrency losses reported to the FBI, a 22% increase from the previous year, and $1.78 billion in losses reported by the Federal Trade Commission, a 25.6% increase.