Ex-Coinbase lawyer launches bid for NY Attorney General with crypto policy at the forefront

Khurram Dara, a former policy lawyer at cryptocurrency exchange Coinbase, has formally announced his run for New York State Attorney General — positioning crypto regulation, enforcement reform and digital-asset competitiveness as the central themes of his 2026 campaign.

In his announcement, Dara said his candidacy is driven in part by what he calls the “lawfare” approach of current Attorney General Letitia James, arguing that her office has pursued aggressive enforcement actions that target the crypto industry for political wins rather than consumer protection.

He claims the strategy has contributed to rising business costs and discouraged innovation in a state that once led the fintech and digital-asset sectors.

Dara, who previously served as regulatory and policy principal at Bain Capital Crypto, noted that his background across crypto, fintech and compliance gives him a unique vantage point on how state-level enforcement shapes the broader digital-asset landscape.

He pointed to James’ high-profile actions against Genesis, KuCoin and NovaTech as examples of what he sees as an enforcement-heavy environment that has reshaped New York’s reputation among builders and investors.

Running as a Republican, Dara is aligning parts of his message with broader voter concerns around affordability and cost of living — themes that became increasingly prominent in New York political campaigns throughout 2024 and 2025. He argues that a hostile regulatory stance toward emerging industries has downstream economic consequences, affecting both job creation and long-term competitiveness.

Dara says he intends to modernize New York’s approach to digital-asset oversight, pledging to “end politically motivated legal actions” and create what he calls a fairer, more innovation-friendly environment for both established and emerging firms. He positions this platform as supporting not only crypto and fintech companies but also the consumers who ultimately bear the cost of regulatory uncertainty.

The race is expected to draw significant attention from the crypto industry. Whoever holds the New York AG office has substantial discretion over when — and how — to pursue enforcement actions against digital-asset companies, making the role one of the most influential state-level positions in U.S. crypto policy.

John Deaton re-enters Massachusetts Senate race as crypto lawyers move into politics

Dara is not the only crypto-connected figure entering U.S. politics this cycle. John Deaton — the attorney who became widely known for representing XRP holders in the U.S. Securities and Exchange Commission’s lawsuit against Ripple — has announced he will again run for U.S. Senate in Massachusetts.

Deaton previously challenged Senator Elizabeth Warren in 2024, losing by roughly 700,000 votes. On Nov. 10, he confirmed he will return to the campaign trail in 2026, this time seeking to unseat Democratic incumbent Senator Ed Markey. Like Dara, Deaton plans to run as a Republican, though both candidates face uphill battles in states historically dominated by Democrats.

Still, Deaton’s recognition within the crypto community and his high-profile role in the Ripple case signal a growing trend: digital-asset lawyers moving into electoral politics, aiming to influence regulation from within the system rather than from the courtroom.