Manhattan District Attorney Alvin Bragg outlined his second-term priorities during a speech at New York Law School, emphasizing guns, shoplifting, and cryptocurrency enforcement. He highlighted crypto's role in enabling other crimes and called for stronger regulations. Bragg stressed a systemic approach to prosecution beyond individual offenders.
On Wednesday morning, Manhattan District Attorney Alvin Bragg addressed an audience at New York Law School, detailing three priorities for his second term: combating gun trafficking, shoplifting operations, and cryptocurrency-related crimes.
Bragg's focus on crypto stems from its facilitation of illicit payments across various criminal activities in the city. He expressed urgency, stating, “I don’t wanna alarm anyone, but… we need systemic accountability on steroids here. In fact, I actually want you to be a little scared.” His office aims to adopt a broader strategy, targeting underlying systems rather than just perpetrators.
For gun enforcement, Bragg plans to disrupt the 'iron pipeline' used by smugglers to transport illegal firearms across the U.S. He also supports laws to ban the production of 3D-printed ghost guns, which lack serial numbers. On shoplifting, efforts will target 'fencing networks' that redistribute stolen goods to buyers.
Regarding cryptocurrency, Bragg described it as essential infrastructure for other offenses, noting a lack of oversight allows billions to flow into criminal ventures. According to blockchain analysis firm Chainalysis, about $51 billion in crypto moved to known criminal addresses or affiliates in 2024. “It’s the infrastructure that allows the other crime to happen. So getting our arms around this is key for systemic accountability,” he said. He pointed out crypto's ease for money laundering, absent the suspicious activity reporting required in traditional banking.
To bolster enforcement, Bragg is collaborating with state legislators on bills mandating 'know your customer' rules for crypto firms, similar to banks, and imposing penalties for unlicensed conversions between crypto and fiat currencies. “We need unambiguous authority to do more of it, and to do it in a more streamlined way. Eighteen other states have done this,” he noted, adding, “We are the center of capitalism, and so doing it here is important.”
During the Q&A, a civil litigator raised concerns about crypto scams victimizing elderly New Yorkers. Bragg acknowledged the challenges in recovering stolen assets, saying, “We spend a lot of time trying to help people get stolen crypto back. It’s very hard.” He endorsed a proposal by state Senator Zellnor Myrie to enhance penalties for white-collar crimes, expand fraud definitions to cover crypto scams, and equip his office better. “Giving my office the tools is very important,” Bragg concluded.