Key Takeaways
- He has repeatedly argued that James’ actions amount to “lawfare” against the crypto industry and says he has “seen the cost of lawfare firsthand.”
- He cited his “regulatory and policy experience, particularly in the crypto and fintech space,” as a core rationale for entering the race.
In a major development, Khurram Dara—former lawyer at Coinbase—has officially entered the 2026 race for New York attorney general, setting up an early challenge to incumbent Letitia James. His campaign was announced on Friday, with Dara placing his experience in crypto regulation and fintech policy at the center of his political campaign pitch.
Dara argued that the attorney general’s office has taken on a role that goes far beyond consumer protection, reshaping the business environment in ways he says are weighing on residents.
“The evolution of state AGs into regulators and policymakers has been costly in more ways than one – and nowhere has that been more apparent than in New York,” he said in his announcement. He added that the shift “set the stage for Letitia James’ partisan lawfare” and raised operating costs for companies “at a time when New Yorkers face a crippling affordability crisis.”
He has repeatedly argued that James’ actions amount to “lawfare” against the crypto industry and says he has “seen the cost of lawfare firsthand.” His position is rooted in his regulatory work, where he claims New York’s enforcement climate has pushed crypto companies, investment, and jobs out of the state.
Dara frames this as part of a broader economic burden, saying lawfare raises the cost of doing business, reduces trust in government, and contributes to an affordability crisis at a time when residents are already stretched. He also cited his “regulatory and policy experience, particularly in the crypto and fintech space,” as a core rationale for entering the race.
Dara’s portfolio reflects a long list of crypto-focused roles. Until July, he served as regulatory and policy principal at Bain Capital Crypto. Before that, he spent several months at Coinbase as policy counsel between June 2022 and January 2023, and previously worked at Fluidity and Airswap, two companies rooted in blockchain and digital asset development.
James, who took office in 2019, has frequently drawn pushback from crypto firms for bringing actions on behalf of affected New Yorkers. Cases involving Genesis, KuCoin and NovaTech have kept her office at the center of the industry’s legal battles.
