The Attorney General of New York State urges Congress to prohibit pension funds from investing in cryptocurrencies
New York State Attorney General Letitia James sent a letter to U.S. congressional leaders on April 10, calling for strengthened federal regulation of the cryptocurrency industry and explicitly opposing the inclusion of digital assets in U.S. retirement plans. James stated that cryptocurrencies "have no intrinsic value" and are highly volatile, making them unsuitable for retirement savings. She also warned that unregulated cryptocurrencies could undermine the dominance of the dollar, threaten national security, and disrupt financial market stability. James proposed regulating stablecoin issuers, requiring them to establish entities in the United States and ensure compliance with anti-money laundering regulations. (Cointelegraph)
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