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Tuesday, July 8, 2025

Put cryptocurrency in its place, finally – New York Daily News - New York Daily News

Each story told sang the same sad, true song. Households savings were wiped out, eviscerating the wealth of entire communities. Well-meaning Americans were trying to do the right thing, but predatory adjustable-rate mortgages and home equity loans were a dangerous mirage that promised prosperity while delivering poverty.
History is repeating itself, threatening another massive depletion of personal and community wealth. Back then, it was dangerous and predatory mortgage products. Now it’s cryptocurrency.
Lawmakers and regulators have a chance, right now, to step up and protect communities against the crypto scams and frauds that threaten our economy.
Before New York’s legislative session ends, Albany has the opportunity — and we think the obligation — to pass bills that will address the harms caused by this industry, from its fossil-fuel guzzling energy consumption, to requirements for financial disclosures and regulation, and investigation and prosecution of investment frauds and...



Read Full Story: https://www.nydailynews.com/opinion/ny-oped-put-cryptocurrency-in-its-place-f...

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