After months of signaling political ambitions, former Coinbase policy lawyer Khurram Dara has formally entered the race for New York State Attorney General. Dara announced his bid in a Friday statement, emphasizing his experience in crypto regulation and fintech policy as central to his campaign platform for the 2026 election cycle.
Dara said his regulatory background places him in a strong position to challenge incumbent Attorney General Letitia James, who has become one of the most prominent state-level crypto enforcers in the United States. Throughout 2024 and 2025, Dara publicly accused James of weaponizing legal authority against digital-asset companies, describing her approach as “lawfare.”
Before launching his campaign, Dara held senior roles across the crypto sector, including serving as the regulatory and policy principal at Bain Capital Crypto until July. His earlier experience includes policy counsel at Coinbase from 2022 to 2023 and roles at blockchain firms Fluidity and Airswap.
Criticism of James’ crypto crackdowns takes center stage
Since taking office in 2019, Letitia James has filed several high-profile lawsuits targeting crypto firms operating in New York. Her office has pursued actions against Genesis, KuCoin, and NovaTech, arguing that these companies endangered New York consumers and violated state provisions.
If elected, Dara would gain significant influence over how the state interprets and enforces digital-asset regulations authority that could reshape New York’s reputation as one of the toughest U.S. jurisdictions for crypto companies.
Alongside his industry regulatory stance, Dara echoed themes from Mayor-elect Zohran Mamdani’s recent campaign, highlighting affordability, rising costs, and the economic pressures facing New Yorkers. Dara confirmed he intends to run as a Republican, with additional candidates expected to enter the primary.
XRP advocate John Deaton enters another race
The wave of crypto-aligned candidates extends beyond New York. John Deaton, the attorney widely recognized for representing XRP holders in the SEC’s case against Ripple, has also announced another run for U.S. Senate in Massachusetts.
Deaton previously ran in 2024 against Senator Elizabeth Warren, losing by roughly 700,000 votes. On November 10, he declared he would again run as a Republican this time seeking to unseat Senator Ed Markey in 2026.