New York AG Orders Two Unregistered Crypto Lenders To Shut Down

New York Attorney General Letitia James on Monday ordered two unregistered cryptocurrency lending platforms to cease operating in the state within 10 days and requested three other platforms to send her office information about their activities and products. From a report: Due in part to a lack of clear regulations, crypto companies have been making various moves — and finding out that not all regulators agree with them. James’ office argued that virtual currency lending products are considered securities under the state’s Martin Act, which requires companies offering such financial services to register with the attorney general’s office in order to do business with New Yorkers.

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