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New York’s AG hits Nexo, four others with more regulatory action
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ambcrypto.comThe United States of America’s federal system, which splits power between the national and state governments, is both a boon and a bane for the crypto-industry. While crypto-mining might be booming in Texas, crypto-platforms in New York have been coming under increasing regulatory pressure.
In the state of New York, crypto-lending platforms must be registered with the Office of the Attorney General (OAG). However, in an 18 October press release, New York Attorney General Letitia James revealed,
“Cryptocurrency platforms must follow the law, just like everyone else, which is why we are now directing two crypto companies to shut down and forcing three more to answer questions immediately…”
Here, it’s worth pointing out that James didn’t mention
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