According to @EleanorTerrett, crypto lawyer Khurram Dara announced his campaign for New York Attorney General and said he would end political weaponization of the office, curb regulatory overreach, and restore New York as a place where innovation can thrive (source: Eleanor Terrett on X, Nov 20, 2025). New York’s Attorney General has previously driven high-impact crypto enforcement, including a $18.5 million settlement with Tether and Bitfinex in 2021 over alleged misrepresentations of reserves and trading, and a 2023 action against KuCoin that alleged ETH is a security under the Martin Act, underscoring how AG policy affects stablecoin oversight and token classification (source: New York Attorney General press release, Feb 23, 2021; source: New York Attorney General press release, Mar 9, 2023; source: New York Attorney General press release, Dec 12, 2023). New York also operates the BitLicense regime and formal stablecoin guidance that set operational requirements for exchanges and USD-backed stablecoins in the state, making the AG’s stance an important regulatory variable for market access and compliance in the crypto sector (source: New York State Department of Financial Services Virtual Currency Regulation overview; source: New York State Department of Financial Services Guidance on USD-backed stablecoins, June 8, 2022).