2 Cryptocurrency Exchange Platforms Shut Down By New York Attorney General | WWTI

NEW YORK (WWTI) – The New York Attorney General has taken steps to limit fraudulent virtual currency trading platforms in the state.

Attorney General Letitia James announced that, following an investigation, her office has terminated trading of the virtual currency exchange platforms Bitfinex and Tether in New York State.

According to the Attorney General’s Office, an investigation found that iFinex, the operator of Bitfinex, and Tether made false statements regarding the support of “tether” stablecoins, according to which each coin was backed by a US dollar. Furthermore, it found that hundreds of millions of dollars had been moved between the two companies to cover Bitfinex’s losses.

Following the investigation, Bitfinex and Tether will have to …

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