Kraken Defends Itself After New York Attorney General Report – September 20th Cryptocurrency News

Well today we are taking a special look at cryptocurrency trading platforms and whether there is a need for regulations to protect crypto investors.

Last week Hackers stole $60 million worth of Bitcoin, Monacoin and Bitcoin Cash from Japanese exchange Zaif. In February, Zaif experienced a system glitch. Some users even obtained cryptocurrency for free, but the exchange later cancelled all illicitly-gained transactions.

The New York Attorney General’s office published a report this week warning crypto fans about the lack of basic consumer protections and risks of market manipulation.

On Tuesday, the state’s legal chief said San Francisco-based exchange Kraken and two other cryptocurrency platforms might be operating illegally in New York.

Kraken defended its position in a tweet stating, we must, however, object to the highly unprofessional/malicious implication that because we did not respond to the voluntary information request, we *might* be operating illegally. We told you we don’t operate in NY. Kraken later tweeted, is it a coincidence that this was published the day before the expiration of the CBOE futures contract?

This week the UK Treasury Committee published a report calling for the government to do something about the current problems facing the crypto world.

Please remember this is news, not investment advice.

So what do you think? Would you personally like to see more regulations to protect consumers? And have you had a bad experience with a trading platform and which ones do you trust the most? Well share with us your thoughts and experiences in the comments below. See you tomorrow.

Kraken Defends Itself After New York Attorney General Report – September 20th Cryptocurrency News

Related Post:

About The Author

Kane Dane