New York Attorney General Eric Schneiderman has asked 13 cryptocurrency trading platforms, including Coinbase Inc and Gemini Trust, to provide additional information about their operations, including information on their commission policies and security measures to protect customer accounts.
“With the growing popularity of cryptocurrencies, consumers in New York and across the country have a right to know what an exchange does and how its activities are monitored when investing their funds,” Schneiderman said in a press statement.
Schneiderman’s request for information is part of a study called the Digital Markets Integrity Initiative, which aims to protect digital currency investors by providing them with the information they need to assess the risks associated with trading in such platforms.
The request includes a questionnaire with questions about ownership, trade policies regarding internal controls, confidentiality and anti-money laundering. Trading platforms must respond to the request by May 1.
According to https://www.reuters.com
You May Also Like
New US bill proposes not to consider cryptocurrencies as securities
On December 20, two US congressmen submitted a bill to the House of Representatives, according to which cryptocurrencies would not be considered securities. The "Token Classification Act of 2018" was introduced by Warren Davidson and Darren Soto and calls for excluding digital currencies from the definition of securities by amending the Securities Act of 1933 and the Securities Exchange Act of 1934.
China is putting pressure on cryptocurrencies: what will happen to the market?
On September 24, the Central Bank of China declared all transactions with cryptocurrencies illegal. The ban also applies to foreign exchanges providing services to Chinese citizens. How did the crypto market react to these actions and what should investors expect now?
