Tags: new york | crypto | exchanges | bitcoin | digital | currency

New York Attorney General Launches Probe of Cryptocurrency Exchanges

New York Attorney General Launches Probe of Cryptocurrency Exchanges
(Mohamed Ahmed Soliman | Dreamstime)

Tuesday, 17 April 2018 01:24 PM

New York Attorney General Eric Schneiderman on Tuesday sought information from 13 cryptocurrency trading platforms, including Coinbase Inc. and Gemini Trust, about their operations such as fee structures and safety measures to protect customer accounts.

"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," Schneiderman said in a news release.

Schneiderman's letter to the companies is part of a fact-finding inquiry called the 'Virtual Markets Integrity Initiative' that seeks to protect virtual currency investors by providing them information they need to understand the practices and risks of trading on these platforms.

The letter includes a questionnaire about the trading platform's ownership, trading policies, internal controls and privacy and money laundering, among others.

Trading platforms have to respond before May 1, the press statement said.

© 2018 Thomson/Reuters. All rights reserved.

   
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New York Attorney General Eric Schneiderman on Tuesday sought information from 13 cryptocurrency trading platforms, including Coinbase Inc. and Gemini Trust, about their operations such as fee structures and safety measures to protect customer accounts.
new york, crypto, exchanges, bitcoin, digital, currency
140
2018-24-17
Tuesday, 17 April 2018 01:24 PM
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