The reaction of the top cryptocurrency exchanges on the requirements of the regulators of new York

The reaction of the top cryptocurrency exchanges on the requirements of the regulators of new York

On Tuesday, attorney General of new York Eric Schneiderman began investigating the activities of 13 of cryptocurrency exchanges, including the GDAX, Gemini, bitFlyer USA, Bitfinex, Bitstamp USA, Kraken, Bittrex, Poloniex, Binance, Tidex,, itBit Trust Company and Huobi.Pro.

Schneiderman’s office has sent the sec a letter in which details were asked to answer questions about ownership, governance, rules of operation, terms of service, privacy policy, trade volumes, the use of “bots” and relationships with financial institutions.

CoinDesk appealed to the 13 stock exchanges with a request to comment on the Prosecutor’s office requirements. At the time of publication of the material responded to only five of them: Gemini, Bittrex, Poloniex, Bitfinex and bitFlyer.

CEO Gemini Tyler Winklevoss said that his company “welcomes” the actions of the attorney General and “looking forward to start cooperation”.

“We welcome a balanced regulation and are happy to cooperate in the pursuit of our goal — to help build the future of money,” added Tyler.

The representative Bittrex noted that the exchange not mind to assist the Prosecutor’s office and will provide answers to all the questions of the questionnaire:

“We look forward to collaboration with the attorney General of the state of new York for the sake of our common goal — to improve the transparency, accountability and security of all cryptocurrency platforms.”

Josh Hawkins, Vice President of marketing for the Circle, the parent company Poloniex told CoinDesk his thoughts:

“We welcome all initiatives aimed at improving transparency and accountability in the space and hope to cooperate with the attorney General of new York. The protection of cryptocurrency investors and consumers has always been a major priority for Circle”.

Advertising Director BitFlyer USA Hayley Lennon also emphasised the importance of transparency:

“Transparency is important for consumer protection in the industry. We received a letter from the attorney General of new York and considered the request.”

Kasper Rasmussen, Director of public relations Bitfinex, gave more useranalysis review:

“We confirm that Bitfinex is aware of the request of the attorney General of new York concerning our operations, controls and overall protection of users. Bitfinex comply with the rules of regulators around the world, so we look forward to the results of the investigation”.

It is worth noting that the comments were given by representatives of the exchanges before it became known about the intentions of Sneiderman to make the results of the investigation available to the General public:

“At the end of the process we plan to publish all the information because the goal of the investigation is providing much-needed transparency and accountability to the cryptocurrency community”.

In this case the attorney General declined to comment on possible lawsuits against the exchanges.

Let's Disqus