New York Attorney General Letitia James warns that Bitcoin may undermine the U.S. dollar's global role and weaken America's economic influence.
She calls for swift and comprehensive federal regulation of digital assets to prevent financial system destabilization and illicit activities.
Concerns are raised that Bitcoin's increasing use for cross-border transactions could erode the dominance of the U.S. dollar in global trade and finance.
There are growing calls for stronger oversight and consumer protection in the cryptocurrency industry.