Prosecutors accuse Binance exchange, Kraken and Gate.io in violation of the law

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In the opinion of the Prosecutor General of the state of new York, three cryptocurrency exchanges Binance, Kraken and Gate.io violate the law on the market of digital assets. In the situation will understand the Department of financial services.

September 18, attorney General of new York Barbara underwood published a report on the results of the inspection activities of cripture. The document stated that many trading platforms do not guarantee the safety of funds of clients and not implementing measures to counter market manipulation.

In April 2018, former attorney General of new York Eric Schneiderman ordered the guide 13 of the cryptocurrency exchanges to provide information on their activities. Four exchanges (Binance, Kraken, Gate.io and Huobi) refused to transmit data, citing the fact that they do not provide services to residents of new York and therefore are not obliged to follow local laws.

In response to the refusal, the Prosecutor’s office issued a statement, which warned citizens about the increased risks of trading on stock exchanges Binance, Gate.io, Huobi and Kraken. After that, the Prosecutor sent a statement to the Department of financial services to verify the validity of the claims of the Prosecutor’s office. Director of Kraken Jesse Powell called the actions of prosecutors “offensive” and refused to cooperate with the state Agency.

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