The Manhattan District Attorney is advocating for the CRYPTO Act, which aims to impose criminal penalties on unlicensed cryptocurrency businesses. According to reports, the proposed legislation would escalate penalties for operating without a license, potentially leading to felony charges and imprisonment for up to 15 years. The development reflects increasing regulatory scrutiny of the cryptocurrency industry and efforts to ensure compliance within the sector.

The Manhattan District Attorney is advocating for the CRYPTO Act, which aims to impose criminal penalties on unlicensed cryptocurrency businesses. According to reports, the proposed legislation would escalate penalties for operating without a license, potentially leading to felony charges and imprisonment for up to 15 years. The development reflects increasing regulatory scrutiny of the cryptocurrency industry and efforts to ensure compliance within the sector.