Breaking: Tether, Bitfinex Sued By New York Authorities, Bitcoin Doesn’t Budge (Yet)

According to reports from The Block and the Wall Street Journal, Bitfinex and stablecoin provider Tether are coming under legal pressure from the office of the New York Attorney General (NYAG). Bitcoin has yet to bulge.

Per a lawsuit issued by official Letitia James, iFinex Inc, which is the company behind the two aforementioned crypto startups, promoted the “issuance, distribution, exchange, advertisement, negotiation, purchase, investment advice, or sale of securities” in New York State, which is illegal without the proper licensing and documentation. While Bitfinex’s services are technically not entirely available in the financial capital of the U.S., the suit stated the NYAG’s office suspects that local traders are actively utilizing the exchange and the stablecoin.

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