Crypto Lawyer Dara Runs for NY AG to Overturn BitLicense
Khurram Dara, a prominent cryptocurrency lawyer, has launched his campaign for New York Attorney General on a platform to overturn the state’s BitLicense framework, which he labels illegal and economically burdensome for crypto firms. Dara argues that the BitLicense imposes excessive compliance costs, stifles digital asset innovation, and violates the economic rights of businesses. He pledges to challenge BitLicense in court, defend crypto companies, and push for fairer crypto regulation across New York. The candidate also vows to curb regulatory overreach by ending contingency-fee agreements that reward private law firms with shares of recovered lawsuit funds and to stop the use of the AG’s office as a political weapon. Dara must secure at least 25% support at the 2026 Republican convention or gather sufficient petition signatures to appear on the primary ballot. His bid could shift crypto regulation policy and shape the future of digital assets in a major global finance center.
Bullish
This announcement could be bullish for the crypto market, as Dara’s promise to overturn BitLicense and curb regulatory overreach may reduce compliance burdens, foster innovation, and improve business confidence in New York—the largest U.S. financial center. In the short term, traders might respond positively to prospects of lighter regulation, potentially lifting prices of affected digital assets. Over the long term, a successful campaign could lead to more favorable crypto policies, attract institutional adoption, and drive sustained market growth. Historical precedents show that regulatory relief often correlates with bullish momentum in crypto markets.