'Play by the rules or we will shut you down,' says NY AG to crypto industry
Letitia James said her office was "sending a clear message to the entire industry." New York Attorney General Letitia James is advising members of the crypto industry and investors to stay vigilant against participating in or becoming a victim of illegal activities. According to the New York Attorney General’s office, James issued an alert to crypto investors today warning them to exercise “extreme caution when investing in virtual currencies.” She referred to cryptocurrencies as “high-risk, unstable investments that could result in devastating losses.”James’ message included a warning to....
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Businesses may loathe burdensome regulation, but they almost always welcome regulatory certainty, even if they are certain they don’t like the particular regulation. Regulatory certainty is predictable and allows businesses to comply with rules, to plan, and to avoid risks, like the risk of the government deciding to shut down their business. Many of my clients tell me they would rather know what the rules are, even if they are bad rules, than operate in an uncertain regulatory environment with the threat of a costly enforcement action looming. Trading in digital currencies or “tokens” –....
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If the current version of BitLicence gets approved, it will lift a huge barrier to innovation and for startup companies acting in the digital currency space. This week Adam Draper, Boost VC CEO, opened a petition in an attempt to remove some of the main BitLicence obstacles. Adam believes that New York State is about to lose a big opportunity to present the most adequate rules for the industry. If made final the current proposed rules by New York's Department of Financial Services would likely shut out New York residents and businesses from this new technology. Following the petition, Adam....
Ukraine has imposed new rules restricting the Fiat usage, which in return would help boost the crypto economy. The National Bank of Ukraine had introduced certain new rules due to change in the country’s financial fundamental situation due to the ongoing military war with Russia. NBU has now devalued Hryvnia against the US dollar by […]