Binance, Bitfinex what happened?

New York’s Attorney General is taking a closer look at some of the world’s most popular cryptocurrency exchanges. Attorney General Eric Schneiderman announced the “Virtual Markets Integrity Initiative” on Tuesday, saying it was “a fact-finding inquiry into the policies and practices” of cryptocurrency trading platforms. Letters were sent to 13 exchanges, seeking information about their “operations, use of bots, conflicts of interests, outages, and other key issues,” according to a press release published on Tuesday. “With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money. Yet too often, consumers don’t have the basic facts they need to assess the fairness, integrity, and security of these trading platforms,” Schneiderman was quoted as saying. Letters were sent to the companies that operate GDAX, Gemini, bitFlyer, Binance, itBit, Gate.io, Huobi.Pro, Bitfinex, Bitstamp, Bittrex, Kraken, Tidex and Poloniex (the latter of which was recently acquired by Circle). According to Schneiderman, 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. “We are aware that certain trading platforms have formal rules barring access in New York and may not have a license to engage in virtual currency business activity in New York. Among other topics, we are asking platforms to describe their measures for restricting trading from prohibited jurisdictions,” the announcement stated. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Comments:
RJF:
Just who the hell does the state of New York think they are? Crypto is global, it’s not headquartered in New York. Piss off New York, go bother people with big cups of soda!

DinkumThinkum:
Of course it’s New York making noise, it’s the capital of the fiat banking oligarchs. They are worried their debt slaves might escape their corrupt fractional reserve banking system. How will they fund their dreams of endless war and death if their little slaves are allowed to free themselves?

SG
Many exchanges bar people from North Korea and New York. If that doesn’t speak volumes about the insanity of New York’s Bitlicense and hostility toward the crypto community, not sure what would. New York regulators have been captured by the banks.

Pete Payton:
The timing is suspect too; just as the Bitcoin futures are about to expire. I was wondering since last week, what FUD will come out, just about now! CBOE expires tomorrow and CME expires soon after.

Pete Payton:
They obey Wall Street and the W.S. Banksters! They care less about the investors. Their only goal is to have Wall Street control and thus manipulate the Crypto market as well!

Steve Blurton:
New York, China, California, North Korea. What do these states and countries have in common they are run by Communists Dictators.

charona:
“consumers in New York and across the country”. They mean that whole country that is not being served at all by Bitfinex? For good reasons it seems…