Prosecutors warn new law lets crypto firms profit from fraud

I’ve been watching Tether and Circle celebrate Washington’s new stablecoin rulebook, and then I saw New York’s top prosecutors try to rip the shine off it. In a warning that’s now circulating through policy circles, they argue the law that was supposed to “de-risk” dollar tokens may also make it easier for issuers to sit on disputed funds, and even earn on them, while victims fight to get paid back. Related: Largest crypto exchange announces surprising plan after Bitcoin crashes GENIUS Act stablecoin fr ...