Following up on the latest crypto news, the standoff between one of the crypto exchanges under investigation Kraken and the New York Attorney General is still ongoing.
As a short recap about the situation, allegedly three major cryptocurrencies broke New York state’s regulation and violated the virtual currency regulations. Kraken is one of the three. As an answer to the allegations, the exchange asks whether OAG employees manipulated bitcoin futures.
The San Francisco-based exchange, it’s the 16th largest crypto exchange by daily volume, responded to the report recently released on Twitter and the response made it to all major crypto news platforms. Kraken accused the OAG employees of manipulating the bitcoin price by releasing this kind of a report just a day before the expiry date of the CBOE’s exchange bitcoin futures contracts.
“Is it a coincidence that this was published the day before the expiration of the @CBOE futures contract? Who traded on insider information and what is being done to prevent manipulation by @NewYorkStateAG employees? Quis custodiet ipsos custodes?”
Kraken also continued in a series of tweets accusing the OAG that they want to shut down the exchange since it declined to fill out the agency’s questionnaire.
In their report, the OAG stated:
“They have so far refused to comply with our inquiry into the matter. The only conclusion we can make at this time is that they might be engaged in unlawful activity.’’
In their own manner, Kraken thanked the OAG for doing all the work in researching taxpayers’ expenses and providing them with confidential information about their competitors.
Crypto Exchanges In Bulgaria Are Investigated: Government Asks For 10% On Profits
Accounts Of The First Digital Bank In India Closed After Involving In Crypto-Related Activity
“I've been a user of DBS' Digibank for a year. Although I regularly used Kotak Mahindra Bank for my cryptocurrency transactions, I used Digibank only 7 times throughout the year. On January 14th, I received multiple messages from my twitter [sic] followers regarding an account closure notice by Digibank. I checked my mailbox and found the mail myself.”However, Digibank stated:
“Reserve Bank of India through their public notices have warned/advised the public regarding risks associated with virtual currencies. We reiterated the same vide our emails dated 4th May 2018 and 2nd Aug 2019, cautioning our account holders [against] the risks associated [...] and that DBS accounts and debit cards should not be used for their purchase or any kind of dealings.”Many other users responded to the allegations that not only Digibank but many other banks are doing the same as well.
BitMex Pulls The Plug On Trading Accounts In Quebec And The US
‘’The development comes at the same time as the Hong Kong-based company notifying users in North Korea, Iran, Syria, Cuba, Sudan and Sevastopol in the Crimea since the fourth quarter of 2018 against holding positions or trading on BitMEX, as these are restricted jurisdictions.’’It seems like BitMex only wants to cover its back and provide protection for their users against regulatory crackdowns. However, the exchange decided to pull the plug on the trading accounts after the Canadian regulatory body has announced the BitMex is operating illegally in Canada:
‘’BitMEX is not registered with the AMF and is therefore not authorized to have activities in the province of Quebec. We informed this company that its activities were illegal.’’There is still no explanation why the exchange decided to shut down the trading accounts in the US. Many believe that the exchange does so because of the same strict crypto regulations. We are still expecting a comment from BitMex since it seems like there is almost a billion dollars worth of crypto still on the platform.
The Revenue Agency Of Bulgaria Will Investigate Crypto-Selling Companies
Join us on Facebook
- 16% Of The Biggest Crypto Exchanges Got Rated A Or A-
- Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
- New Crypto Wave Will Focus On Stablecoins: Swiss BTC Association Board Member
- Using A Fake BBC News Page, Cybercriminals Managed To Generate Bitcoin
- Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
United States: Presidential Candidate Tulsi Gabbard Bought Crypto At Peak
Altcoin News4 days ago
Bitcoin Hovers Near $3,700 As Top Altcoins Record A Mix Of Reds And Greens
Ethereum News2 days ago
Coinbase And Kraken Officially Supporting ETH’s Constantinople Hard Fork
Altcoin News3 days ago
Bitcoin Drops Below $3,600 As $5 Billion Get Wiped Out Of The Crypto Market
Ethereum News3 days ago
$100,000 Reportedly Returned From Ethereum Classic 51% Attacker
Bitcoin Scams2 days ago
New Torrent Malware Posing As Movie File Can Replace BTC & ETH Addresses: Researcher
Altcoin News3 days ago
Major Swiss Bank Launches A Crypto Custody Solution Targeting Banks & Asset Managers
Blockchain News4 days ago
Washington’s Douglas County Wants To Build A Blockchain Innovation Campus