New York Attorney General Letitia James urged Congress to enact federal cryptocurrency laws, emphasizing the need for a unified regulatory framework to safeguard market stability amidst concerns about crypto’s volatility. James argued that insufficient oversight allows fraudsters to flourish, calling for transparency and stronger regulation to protect investors from potential losses. This request comes after recent market fluctuations raised concerns about the impact of cryptocurrency on investors and economic systems. James believes robust federal regulations would enhance trust in digital currencies, potentially driving broader adoption. However, concerns exist about stifling innovation. While experts emphasize the need for clarity and balance as lawmakers debate the best course of action, James highlights the urgency of addressing challenges posed by unregulated cryptocurrencies. The AG’s call follows previous regulatory attempts at the state level that faced challenges due to lack of consistency and complexity in existing systems. James believes strong federal regulations could lead to greater market stability and investor confidence, aligning with past experiences where stricter regulation helped stabilize markets and boost investment.