“Or we’re shutting you down”: a Prosecutor warned the crypto-industry

The New York attorney General Letitia James has pointed out in an investor alert to the dangers of the crypto sector, and company liability. Who is dancing out of line with the law.

Letitia James has thrown a special eye on the crypto-Economy. Just last week, the New York attorney General, has made a comparison against Tether and Bitfinex. Against Coinseed James has already filed a lawsuit. Now, the entire crypto-industry has got a simple and self-evident. Your call: follow the rules, otherwise it goes to the collar.

Crypto industry in the debt

The Press release the New York office of the Prosecutor General is like a sweeping blow to the crypto-Economy, or more precisely against all the black sheep, the enrich themselves at the expense of bona fide investors. Accordingly, an “extreme risk” for New York, which have invested in crypto-currencies, there would be. The crypto market set to “investors of the risks, such as wild fluctuations in the price, conflicts of interest between the operators of trading platforms, and increased opportunities for market manipulation”. Consequently, it advises all investors to “beware of when investing in virtual currencies”.

In the same breath, James is one of the crypto industry. Exhorts you to “brokers, dealers, sellers, and investment advisers” that you “can’t be made both civil and criminal liability” if you fail to comply with the New Yorker registration obligations.

All too often, participants in a greedy Industry unnecessary risks with the money of the investors, but today, we’ll match the playing field and give out warnings to both investors as well as industry members across the country.

Therefore, all of the crypto-should-investors “with extreme caution, if you invest in virtual currencies”. Crypto a risky, unstable investment, which can quickly lead to devastating losses as profits can be currencies “high”. The Wortalut the press release as a martial reads the announcement:

We will not hesitate to use against any action that violates the law.

Tether: A Wake-up call for the market

Reprinted get the warnings by the Causa Tether. After years of guesswork on the Tether reserves came at the end of February, a comparison between Tether Limited, Bitfinex and the Prosecutor’s office. As BTC-ECHO reported, had to pay the sister gauged firm as a result of fines in the millions, and their trading activities in the state of New York set.

And now, today, we send a clear message to the entire industry that you’re playing either, according to the rules or we’re shutting you down.

In the Wake of the pandemic, more and more “scammers and unscrupulous actors had been in the industry” in appearance, the “misleading tactics to win with false promises of high or even guaranteed yields of trust”. A Whistleblower Portal can be forwarded information about fraudulent crypto provider directly to the Prosecutor’s office.