**[New York Attorney General: CLARITY Act May Weaken State-Level Crypto Enforcement]** Odaily Planet Daily News – New York Attorney General Letitia James submitted written testimony to the U.S. Congress, urging stronger regulation of cryptocurrency companies and stating that proposed federal legislation could weaken states' ability to investigate fraud and hold platforms accountable. Letitia James stated that the Digital Asset Market Clarity Act would override state-level digital asset market regulation and shift regulatory responsibilities to the U.S. Commodity Futures Trading Commission (CFTC), thereby weakening state and local enforcement. She disclosed that the New York Attorney General's Office has seen a twofold increase in crypto fraud complaints over the past three years, with reported losses totaling nearly $500 million over the past five years. She called on crypto platforms to comply with anti-money laundering, know-your-customer, and cybersecurity requirements, monitor suspicious activities and market manipulation, and be held financially accountable when failing to protect customers from fraud.