Crypto exchanges under New Yorks Attorney General scrutiny

Wednesday 18 April 2018 11:03 CET | News

New York’s Attorney General has started to take a closer look at some of the world’s most popular cryptocurrency exchanges.

As a result, letters were sent out to 13 exchanges, seeking information about their operations, use of bots, conflicts of interests, outages, and other key issues, CoinDesk cited a press release published on April 17. Attorney General Eric Schneiderman had said that the “Virtual Markets Integrity Initiative” aims to protect consumers in New York and across the US, and build a transparent and accountable environment when users invest their money into cryptocurrency.

Letters were sent to the companies that operate GDAX, Gemini, bitFlyer, Binance, itBit,, Huobi.Pro, Bitfinex, Bitstamp, Bittrex, Kraken, Tidex and Poloniex (the latter of which was recently acquired by Circle).

The inquiry is focused on key issues such as “internal controls and safeguards to protect consumer assets.” In statements, Schneiderman’s office said that the effort would, in part, look into the exchanges that explicitly do not operate in New York because of regulatory concerns, the online publication has concluded.

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Keywords: cryptocurrency, crypto exchanges, US, regulation, Bitcoin, Gemini, bitFlyer, Bitfinex, Kraken
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies