NY Attorney General warns investors and crypto firms of 'extreme risks'

New York Attorney General Letitia James has issued an investor alert against the "wild price swings and extreme risk" of crypto trading. Following weeks of volatility in the crypto markets and two high-profile legal cases involving crypto firms in New York state, NY Attorney General Letitia James has issued her starkest warning yet to all participants in the industry. In a double alert published on March 1, James warned retail traders that they face heightened risks and low protection, both in terms of regular crypto trading and being potentially subject to "abusive and unsafe activity" by bad actors exploiting a period of widespread economic anxiety and high unemployment. Regarding everyday trades and the allure of the 2021 crypto bull market, James's alert pulled no punches.

'Play by the rules or we will shut you down,' says NY AG to crypto industry

Letitia James said her office was "sending a clear message to the entire industry." New York Attorney General Letitia James is advising members of the crypto industry and investors to stay vigilant against participating in or becoming a victim of illegal activities.  According to the New York Attorney General’s office, James issued an alert to crypto investors today warning them to exercise “extreme caution when investing in virtual currencies.” She referred to cryptocurrencies as “high-risk, unstable investments that could result in devastating losses.” James’ message included a warning to industry players that the AG would come down hard on firms skirting the law.

New York Is Done With Tether. Will Other States Follow?

Just because Tether and Bitfinex settled with the New York Attorney General doesn’t mean they are out of the woods, say legal experts.

Tether to report reserves and pay $18.5M fine after settlement with NYAG

New York regulators are forcing Tether to be fully transparent about its reserves, at the cost of not serving New York residents. Bitfinex and Tether settled with the New York Attorney General office in the landmark case against Tether.

Tether And Bitfinex Settle With the New York Attorney General's Office

Source: iStock/standret, Cryptonews.com Major crypto exchange Bitfinex and Tether, the issuer of the most popular stablecoin, tether (USDT), said they have reached a settlement of legal proceedings with the New York Attorney General’s Office.

US Authorities Take Action to Shut Down Crypto Trading Platform Allegedly Defrauding Thousands of Investors

The New York attorney general and the US Securities and Exchange Commission (SEC) have filed charges against a cryptocurrency trading platform that allegedly defrauded thousands of investors out of over a million dollars.

New York AG accuses Coinseed of defrauding investors

The New York Attorney General has filed a lawsuit against crypto investment platform Coinseed for allegedly defrauding investors and selling a token that remains unlisted three years later. New York State Attorney General Letitia James has sued crypto investment platform Coinseed Inc for allegedly defrauding thousands of investors out of more than $1 million.  According to the Attorney General, Coinseed and its CEO Delgerdalai Davaasambu and former CFO Sukhbat Lkhagvadorj, traded unlawfully, defrauding investors between 2017 and May 2018: “Rather than selling stock, Coinseed sold digital tokens to raise funds to support the growth of its business.

Bitfinex Says It’s Nearly Done Turning Over Documents to NYAG

The document production process has already stretched over a year.

Bitfinex & Tether in Focus amid Key Milestone in NYAG Probe

Source: iStock/standret, Cryptonews.com Today is the date on which the injunction placed on related major crypto companies Bitfinex and Tether by the New York Attorney General (NYAG) expires, and it is also the deadline for both companies to hand over any remaining financial documents tied to the elusive USD 850 million to the NYAG. Tether, the issuer of the most popular stablecoin, tether

New York Attorney General Says Bitfinex, Tether Could Complete Loan Document Handover in ‘Weeks’

The NYAG has said Tether and Bitfinex have been cooperating in its inquiry, which is expected to progress more quickly once the documents are provided.

NY Attorney General expects documents within weeks in Bitfinex/Tether case

The New York Attorney General’s Office has reported that Ifinex is cooperating in producing documents regarding Bitfinex and Tether’s business relations from April 2019. The Office of the New York Attorney General, or OAG, has requested a deadline extension for iFinex Inc — the parent company of both crypto exchange Bitfinex and stablecoin issuer Tether — to produce the documents requested for their ongoing legal battle. On Dec.

Bitcoin volume unaffected by Tether’s (USDT) market dominance — Data shows

Tether’s USDT stablecoin dominates crypto market volumes but data shows its $15.7B market cap does not negatively impact Bitcoin’s volume. Tether’s (USDT) stablecoin has been the leading base pair for cryptocurrencies for over eighteen months.  This is a rather impressive feat given the ongoing court case with the New York Attorney General and the other frequent rumors that USDT is not sufficiently backed or subject to regulators' reach.  USDT has also been the dominant stablecoin in China even though the country banned cryptocurrency exchanges in 2017.

Judge Orders Bitfinex to Turn Over Tether Loan Documents (Again)

A New York judge eordered Bitfinex and Tether to turn over financial documents to the New York Attorney General's office, but left the timing to the parties to coordinate.

New York Attorney General to Bitfinex and Tether: ‘Delays Must Stop’

Bitfinex and Tether shouldn’t need more than two months to produce documents about USDT issuances and past operations in New York first ordered 17 months ago, an NYAG lawyer argued in a letter Monday.

NYAG Asks Court for New Order to Make Bitfinex Turn Over Tether Loan Documents

The New York Attorney General's office wants Tether and Bitfinex to immediately turn over documents detailing a $900 million line of credit.

Bitfinex Must Face New York’s Accusations Over the Loss of $850M in Co-Mingled Funds

The popular digital currency trading platform, Bitfinex must deal with the New York Office of the Attorney General (NYAG) over the alleged hiding of over $800 million in client and corporate funds.