Analysis
“The world looks to New York, and the world looks to [its] Department of Financial Services,” veteran crypto regulator Ken Coghill told a Cornell audience.
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New York News
New York City is the largest city in the USA and is also important globally as a financial, political, economic, touristic and cultural center. Along with Tokyo and London, New York is considered to be one of the main centers of the global economy. In terms of Bitcoin, the New York Stock Exchange has recently included a stock market index for Bitcoin (NYXBT) which is the first official index for a cryptocurrency. Cryptocurrencies have a special place in New York, as it is legal to use, easy to get and a lot of Wall Street experts have acknowledged the significance of cryptocurrencies in the economy. Besides this, New York is a place for numerous crypto-related meetings and conferences. Also, there is a New York Coin (NYC) made especially for citizens of New York.
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Former SEC chair Jay Clayton has released public statements on criminal cases involving crypto since becoming interim US Attorney for the Southern District of New York on April 22.
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Mango Markets has filed a victim impact statement asking the court that in light of Eisenberg’s conviction, to grant $47 million in restitution to the exchange.
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A class-action lawsuit filed in New York alleges that Meteora, Kelsier Labs, and specific individuals misrepresented the M3M3 token to "illicitly enrich themselves."
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The US Justice Department under President Donald Trump issued a memo on April 7 suggesting it would halt the prosecution of cases involving crypto enforcement.
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The bill seeks to legalize cryptocurrency payments using Bitcoin, Ethereum, Litecoin and Bitcoin Cash, but may mandate an an additional state “service fee” for these transactions.
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Letitia James has rallied Congress to support stopping US retirement funds from investing in crypto or crypto ETFs, which she claimed have “no intrinsic value.”
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Former New York Governor Andrew Cuomo reportedly advised OKX on legal issues stemming from a probe into its prior violations of US Anti-Money Laundering laws.
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Anthony Scaramucci called NAYG’s lawsuit against Galaxy Digital “lawfare,” while another crypto executive said the particular law was so unusual he had to look it up on ChatGPT.
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Kelsier Ventures, KIP Protocol and Meteora have been sued in a New York court for their alleged role in the Libra token scandal, which saw around $107 million pooled from investors.
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“There was nothing funny about his use of a Seinfeldian company, Vandelay Industries, to carry out this fraud,” said US Attorney John Durham.
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“In my view, these activities should fall firmly within the jurisdiction of law enforcement agencies,” crypto regulations experts told Cointelegraph.
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“The company is engaging in conversations with NYDFS to determine whether this matter can be settled on acceptable terms,” Block Inc. said in a regulatory filing.
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US officials have seized $31 million worth of crypto linked to a 2021 hack of Uranium Finance, a now-defunct DeFi platform on BNB Chain.
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SafeMoon chief technology offer Thomas Smith is now pleading guilty to allegations that he took part in a $200 million crypto scheme.
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