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.

Bitfinex and Tether Fined $18.5M in Settlement With NY Attorney General, Both Firms Barred From Trading in the City

Bitfinex and Tether have been banned from operating in New York and must pay a fine of $18.5 million as part of a settlement with the New York Attorney General’s (NYAG’s) office over a case dating back to 2019.

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.