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NYAG’s Warning to Crypto Businesses Muddies Regulatory Waters

November 11, 2021

Via: LexBlog

New York’s chief law enforcement agency recently squandered an opportunity to bring much needed guidance to the digital assets space. On October 18, the Office of New York Attorney General Letitia James (“NYAG”) issued a press release warning New York businesses offering interest-bearing accounts to customers who deposit virtual currency with them without having registered under General Business Law § 352, et seq. (the “Martin Act”) that they are breaking the law.

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