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What does New York attorney general Letitia James say about cryptocurrency?

NEW YORK – New York Attorney General Letitia James today announced landmark legislation to tighten regulations on the cryptocurrency industry to protect investors, consumers, and the broader economy.

Will New York regulate cryptoassets in 2023?

Buildings in Manhattan, New York On Friday, May 5, 2023, New York Attorney General Letitia James (“AG”) announced sweeping legislation to regulate the cryptoasset industry. The bill’s purported intent is to “protect customers and investors in digital assets from fraudulent practices, eliminate conflicts of interest and increase transparency.”

What happened to unregistered crypto lending platforms in New York?

In October 2021, Attorney General James directed unregistered crypto lending platforms to cease operations for not registering with the state. Attorney General James once again urges New Yorkers who have been affected by deceptive conduct in the virtual assets market to report these issues to OAG .

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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