{"id":70479,"date":"2026-02-03T04:16:35","date_gmt":"2026-02-03T04:16:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=70479"},"modified":"2026-02-03T04:16:35","modified_gmt":"2026-02-03T04:16:35","slug":"circle-says-it-prioritizes-financial-integrity-as-prosecutors-reportedly-allege-stablecoin-law-allows-crypto-companies-to-gain-from-fraud","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=70479","title":{"rendered":"Circle Says It Prioritizes &#8216;Financial Integrity&#8217; As Prosecutors Reportedly Allege Stablecoin Law Allows Crypto Companies To Gain From Fraud"},"content":{"rendered":"<div>\n<p>New York\u2019s leading prosecutors raised concerns about the new stablecoin legislation, citing weaker safeguards for fraud victims, according to a Monday report.<\/p>\n<h2 class=\"wp-block-heading\">Legal Backlash Against Stablecoin Bill?<\/h2>\n<p>New York Attorney General\u00a0<strong>Letitia James<\/strong>\u00a0and four district attorneys signed a letter criticizing the GENIUS Act, <a href=\"https:\/\/edition.cnn.com\/2026\/02\/02\/business\/stablecoin-genius-act-crypto\">reported <\/a>CNN. They contend that the law lends an unwarranted sense of \u201clegitimacy\u201d to stablecoins, while allowing companies that issue these stablecoins to &#8220;avoid significant regulatory requirements\u201d needed to combat financial crimes.<\/p>\n<p>Benzinga sought confirmation from the New York Attorney General\u2019s office on the report. <\/p>\n<p>The prosecutors reportedly said that these requirements are vital in the fight against\u00a0financing terrorism, drug trafficking and money\u00a0laundering.<\/p>\n<p>They further alleged that the two leading stablecoin issuers,\u00a0<strong>Tether<\/strong> <a class=\"ticker-link\" data-ticker=\"USDT\" data-exchange=\"CRYPTO\" href=\"https:\/\/www.benzinga.com\/quote\/USDT-USD\" target=\"_blank\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/\">USDT<\/a>)\u00a0and\u00a0<strong>Circle Internet Group Inc.<\/strong> <a class=\"ticker-link\" data-ticker=\"CRCL\" data-exchange=\"NYSE\" href=\"https:\/\/www.benzinga.com\/quote\/CRCL\" target=\"_blank\" rel=\"noopener\">(NYSE:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/CRCL\">CRCL<\/a>), \u00a0have obstructed\u00a0law enforcement efforts to seize\u00a0and return funds to victims, all &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/crypto\/cryptocurrency\/26\/02\/50321641\/circle-says-it-prioritizes-financial-integrity-as-prosecutors-reportedly-allege-stablecoin-?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"Circle\" says it prioritizes integrity as prosecutors reportedly allege stablecoin law allows crypto companies to gain from fraud>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New York\u2019s leading prosecutors raised concerns about the new stablecoin legislation, citing weaker safeguards for fraud victims, according to a Monday report. Legal Backlash Against Stablecoin Bill? New York Attorney General\u00a0Letitia James\u00a0and four district attorneys signed a letter criticizing the GENIUS Act, reported CNN. They contend that the law lends an unwarranted sense of \u201clegitimacy\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-70479","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/70479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=70479"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/70479\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}