Khurram Dara, a former policy counsel at cryptocurrency exchange Coinbase, officially announced his intention to run for the office of New York State Attorney General.
Dara accused James of partisanship and putting her political ambitions first in the disposition of her duties as Attorney General. With his regulatory and policy experience in the crypto and fintech space—most notably at Coinbase and Bain Capital Crypto, Dara claims to have seen firsthand these companies being unfairly targeted by the government.
A part of the former Coinbase attorney’s campaign message read:
Dara’s platform includes ending lawfare, prioritizing public safety and making New York more business- and innovation-friendly. Dara says he plans to make specific changes to the office to address affordability and the cost of doing business, such as curbing the office’s use of the Martin Act, ending the practice of hiring private law firms on a contingency-fee basis, and fighting unlawful regulations.
The ex-Coinbase lawyer said that he intends to run under the Republican Party, speaking about tackling New Yorkers’ concerns about the cost of living and affordability.
Interestingly, the New York Mayor-elect Zohran Mamdani seems to lean more towards James’s approach to consumer protection-focused crypto regulation. Such an instance was seen in 2023 when Mamdani, who was then a member of the New York City Assembly, agreed to AG James’s bill to protect vulnerable New York investors.
As of this writing, the total cryptocurrency market capitalization stands at around $2.87 trillion. With most large-cap assets under significant bearish pressure, the crypto market saw its value shrink by nearly 10% in the past week.
Featured image from Getty Images, chart from TradingView
