Cryptocurrency Exchanges Binance, Kraken May Be Operating Unlawfully in New York: AG ReportNew York State Attorney General Barbara Underwood has referred three major cryptocurrency exchanges to the state’s Department of Financial Services (NYDFS) for potential violation of New York’s virtual currency regulations. The exchanges referred are Binance, Gate.io and Kraken. This was revealed in the Virtual Markets Integrity Initiative Report released earlier today by the Office of the New York State Attorney General (OAG).
The report details the concerns initially raised by the OAG about the operations of cryptocurrency exchange platforms, especially regarding security, internal controls, market surveillance protocols, and other relevant consumer and investor protections.
Cat and Mouse Game
Earlier in they year, CCN reported that the OAG sent out a letter with a 34-point questionnaire to 13 crypto exchanges, including some without active operations in New York, asking them to take part in its Virtual Markets Integrity Initiative aimed at fostering greater transparency into their operations. The 13 exchanges addressed were GDAX, Gemini, bitFlyer USA, Bitfinex, Bitstamp USA, Kraken, Bittrex, Poloniex, Binance, Tidex, Gate.io, itBit Trust Company, and Huobi.Pro.
https://www.ccn.com/cryptocurrency-exchanges-binance-kraken-may-be-operating-unlawfully-in-new-york-ag-report/