CoinEx, the Hong Kong-based crypto exchange, has been banned from operating in New York by Attorney General Letitia James. NYAG mentioned that the crypto exchange has failed to register as a broker-dealer. So the authorities shut down the crypto exchange. 🚨There are serious consequences for ignoring New York laws. As
New York City (NYC) Comptroller Brad Lander has announced a significant action to freeze deposits at Capital One Bank and KeyBank. This choice is a result of Lander’s continued efforts to protect New Yorkers’ financial interests. Furthermore, it upholds ethical banking practices in the city. The action is viewed as
A new crypto regulation named CRPTO Act came into existence, to secure all the New York-based crypto investors with their finances. Letitia James, the General Attorney of New York announced the legislative proposal of the CRPTO Act on May 8. The laws on the regulations are set to discard the
Letitia James, New York’s attorney general, has proposed a bill to regulate the cryptocurrency sector. It will give the New York State Attorney General more power over local crypto companies. The development of the crypto sector in New York has been stunted by the state’s regulatory measures. New York is
The New York State Department of Financial Services (NYDFS) has implemented a new regulation. That empowers the government agency to collect supervisory fees from licensed cryptocurrency firms operating within the state. This means that the agency now has the authority to obtain the necessary funds to oversee and regulate the
The leading crypto exchange KuCoin is being sued by the New York Attorney General’s office for allegedly breaking state securities and commodities laws. In the case, Attorney General Letitia James makes the shocking statement that Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is a “Security” in addition to Terra
On Monday, New York authorities issued a further warning to the crypto industry, this time regarding how to safely manage its clients’ digital assets. The New York Department of Financial Services (NYDFS) sent a public letter to the sector explaining the need of segregating client funds, the role that custodians
At The New York Times’ annual DealBook Summit, Sam Bankman-Fried was interviewed by Andrew Ross Sorkin on Wednesday. He discussed a variety of topics, including risk management, philanthropy, regulation, and real estate in the Bahamas. SBF acknowledged that he “screwed up” and did commit serious mistakes. He said that he
New York governor, Kathy Hochul imposed a temporary ban on the crypto mining firms for the next two years. All the mining companies that use carbon-based power sources will be banned immediately. Through this law, the state will focus on balancing both its economic growth and climate goals. Furthermore, implementing
The dilemma around cryptocurrency is increasing, and the use of Central Bank Digital Currency “CBDC” is surging on more countries’ soil. To weigh this, New York has now been added to the list of the famed states that have been launching CBDCs. The Innovation Center of the Federal Reserve Bank
