FBI Reports Cryptocurrency-Related Losses Exceeding $11 Billion in 2025, New York Attorney General Warns CLARITY Act Could Weaken State Enforcement Powers
2026-08-02 05:32
Odaily News: The U.S. Federal Bureau of Investigation (FBI) disclosed that cybercrime losses reported by Americans in 2025 approached $21 billion, with 181,565 complaints related to cryptocurrency and total losses exceeding $11 billion.
New York Attorney General Letitia James testified before Congress on July 27 that the CLARITY Act, which would transfer primary regulatory authority over digital assets to the U.S. Commodity Futures Trading Commission (CFTC), could weaken states' ability to investigate fraud and hold cryptocurrency companies accountable.
James called on crypto platforms to comply with anti-money laundering, know-your-customer, cybersecurity, and market surveillance requirements, and to bear financial responsibility for preventable fraud. Her office has seen nearly a threefold increase in cryptocurrency fraud complaints over the past three years, with related losses approaching $500 million over the past five years.
New York Attorney General Letitia James testified before Congress on July 27 that the CLARITY Act, which would transfer primary regulatory authority over digital assets to the U.S. Commodity Futures Trading Commission (CFTC), could weaken states' ability to investigate fraud and hold cryptocurrency companies accountable.
James called on crypto platforms to comply with anti-money laundering, know-your-customer, cybersecurity, and market surveillance requirements, and to bear financial responsibility for preventable fraud. Her office has seen nearly a threefold increase in cryptocurrency fraud complaints over the past three years, with related losses approaching $500 million over the past five years.
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