Nazia Saeed
- Khurram Dara, former Coinbase policy counsel, signals possible run for NY State AG in 2026
- Dara criticizes perceived “lawfare” against crypto and suggests digital assets could shape his campaign platform
- Current AG Letitia James has taken multiple legal actions against crypto entities, highlighting regulatory tensions in New York
Khurram Dara, a former policy counsel at cryptocurrency exchange Coinbase, has suggested he may challenge New York State Attorney General Letitia James in the 2026 election, citing concerns over what he calls “lawfare” against the crypto industry. While Dara has not officially declared a campaign, he has already made statements on social media supporting figures like Tornado Cash co-founder Roman Storm and criticizing politicians, including Senator Elizabeth Warren, for conflating crypto with illegal activity.
Dara told Cointelegraph that his platform would focus on ending regulatory overreach at the state level, especially as federal crypto policies become clearer. “Some state AGs believe it’s their role to fill a perceived ‘gap’ in federal policy, effectively acting as national policymakers or regulators.
New York’s crypto regulatory environment
Since assuming office in 2019, Letitia James has actively pursued legal actions against several crypto companies, including Genesis, former Celsius CEO Alex Mashinsky, NovaTech, and KuCoin. New York, home to major crypto firms like Gemini, Galaxy Digital, and Chainalysis, plays a central role in shaping digital asset regulations in the US. James has emphasized protecting New Yorkers from unregulated crypto platforms and fraud, citing cases like NovaTech in June 2024 as examples of risks.
Dara, 36, who currently works at the Council on Foreign Relations, has never held elected office but has a history of legal and policy experience. Should he run as a Republican, he would join a trend of crypto-affiliated lawyers challenging Democratic incumbents, similar to John Deaton’s 2024 bid against Senator Warren in Massachusetts.
Dara emphasized that the crypto community is seeking fair treatment rather than special privileges. New York is where many people in crypto, tech, and venture want to be. The state should embrace that, rather than target it with regulation by litigation.
Currently, the only other declared candidate for NY AG in 2026 is Republican Michael Henry, who lost to James in 2022 with about 45% of the vote. A Siena College poll from December 2024 indicated James had a 40% favorable rating among New Yorkers.
