Tag Archives: new york

New York attorney general Leticia James is suing another digital currency company. This time, the victim is Ku Coin, whom James said failed to register as a security and commodities broker-dealer and is falsely representing itself as a crypto exchange. Ku Coin Is the Victim of a New York Lawsuit On one hand, there are many shady crypto companies out there that have sought to take advantage of customers and those who do business with them. FTX is proof of this, and it’s a...

A fight is brewing between a cryptocurrency mining firm in Niagara Falls, New York and city regulators. The city wants the enterprise shut down, while the facility is working hard to keep its license in play so it can continue its business. The company in question is called Block Fusion, and it’s been working for many years in an old industrial site on Frontier Avenue. Block Fusion Is Engaged in a Crypto Lawsuit New York has not been a kind region to crypto companies....

New York Attorney General Leticia James is suing another digital currency company. This time, the alleged “victim” of James’ attacks is Coin Ex, a crypto exchange that is reported to have conducted illegal business within the state. Leticia James and Coin Ex Will Duke It Out in Court It’s believed Coin Ex failed to engage in proper New York registration protocols. Court documents suggest the company persistently engaged in repeated “fraudulent practices” and that it...

The state of New York is moving towards accepting a new bill that if passed, would allow crypto to be used as a form of payment. Is New York Suddenly a Crypto Fan? This is huge for the Empire State in that it would not only put New York on the crypto map, but it would also ensure crypto – at least within the state’s borders – is utilized for the purpose it was created for. The bill states: This act amends the state finance law in relation to allowing New York state...

The state of New York and its attorney general Leticia James are suing former crypto lending network Celsius for allegedly engaging in fraud and misusing customer funds. New York Comes Down Hard on Celsius The sentiment is that FTX wasn’t the only company to use traders’ money for personal gains this year. Celsius really rang a lot of negative bells last summer when it first announced it was going to be halting all withdrawals given that speculation and the volatility of...

Coinbase – one of the largest and most popular digital currency exchanges in the world – has announced it will pay roughly $50 million in settlement fees to New York regulators for allegedly failing to comply with the Empire State’s anti-money laundering laws. Coinbase Allegedly Did Not Comply with Anti-Money Laundering Laws Regulators say that Coinbase has several older accounts that it hasn’t bothered to apply anti-money laundering laws to. There have been several...

Not long ago, the state of New York imposed a moratorium on crypto mining, thus barring any firms that did not fully rely on clean energy from entering its borders and setting up shop. Initially, the ban was set to last a total of two years, though now, local legislators are considering extending the ban. The New York Crypto Moratorium Could Be Extended A town board meeting has been put on the calendar regarding the moratorium in the region of Massena. Town supervisor...

New York, for lack of better terms, is behaving very foolishly when it comes to the growing crypto space. New York Should View Crypto in a Stronger Light The industry has shown itself to have a lot of prowess despite the volatility of coins and the actions of a few bad companies here and there. In many ways, the industry is likely to revolutionize finance in more ways than one, but when a major hub like the Empire State continues to turn its back on the industry and...

It’s happened, folks. We’ve always known New York wasn’t crazy about cryptocurrency, but this new law its governor has recently passed clearly takes its dislike of the industry to a whole new level. The law will limit crypto mining within the state and guarantees safe passage only to firms that utilize green energy. New York Puts Limits on Crypto Mining The bill has been on the table for many weeks, though New York Governor Kathy Hochul has been slow to make a clear...

New York really doesn’t care about cryptocurrency, and the re-election of Governor Kathy Hochul is proof of this. New York Just Doesn’t Get It During this year’s midterm elections, Hochul ran against Lee Zeldin, who arguably had one of the most competitive republican campaigns in the Empire State in years. Right now, New York is facing a bill that’s been passed by the state legislature. The bill would enforce a moratorium on the crypto mining space and prevent all new digital currency...