13 large cryptocurrency exchanges receive an inquiry from the NY Attorney General

The office of the New York Attorney General has sent a list of questions to several cryptocurrency exchanges regarding the details of their financial operations, as reported by the media outlets citing the exchange representatives and, more importantly, the list itself which has been published in open sources.

Tyler Winklevoss from Gemini has welcomed this Virtual Markets Integrity Initiative started by the New York state authorities. Other exchanges (GDAX, bitFlyer USA, Bitfinex, Bitstamp USA, Bittrex, Poloniex, Binance included), were not against this too when asked by the press. Journalists note that the commentaries were made before the intention of the Attorney General to publish the investigation results became apparent. Overall, the managers of exchanges might be less welcoming to this new procedure than they try to seem.

This massive review of exchanges resembles the scrutiny process the Japanese authorities have launched after the hack of Coincheck. Apparently, America’s officials want to prevent similar catastrophes. The toughening of rules for crypto exchanges is also likely to receive an appraisal from conservative bankers.

Image courtesy of Martin Pettitt / Flickr