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⁉️ The GENIUS Law on Stablecoins Does Not Protect Against Fraud
🛡 New York Attorney General Letitia James and four district attorneys signed a letter stating that the GENIUS law "provides legal cover" for stablecoin issuers.
"The reality is that funds stolen in USDT or converted into USDT will never be frozen, seized, or returned," the letter, published by CNN, states.
➡️ The letter mentions that it is up to the individual to decide whether to cooperate with law enforcement in recovering stolen funds in each specific case, and that Circle's policy on this matter is allegedly even worse.
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