Bitcoin, Crypto currency, Blockchain

New York regulators released crypto-manipulation-report

New York Department of State highlights both sides of the crypto currencies

In a recently by the New York State Department of Financial Services Attorney General (OAG) report, published by Barbara Underwood explained angles, the views of your office. Barbara claims that she has analyzed the issue without regulatory concerns and the pros and Cons of the digital world of currencies set out to make the people on the benefits and risks you incur in using this Form of currency. The advantage of such a currency in circulation is the simplicity that can be carried out, with the help of Online transactions. They can easily be made accessible and, unlike in the case of Bank transfers you are required for online purchases only the receiving address of the seller. The report on the various obstacles to modern, digital crypto-currencies was expected with voltage. He represents, in Essence, three different major problems for the industry. These include different ways of thinking of the people, questionable safety, and the risk of exploitation. Of the report particularly mentioned the one negative is the San Francisco-based Exchanges, such as Kraken, Binance and Gate.io.

Kraken shoots back on Twitter

The report was aimed at octopus and said: “The OAG, the practices and processes of non-participating platforms (Binance, the Gate could.io, Huobi and Kraken) in respect of manipulative or abusive trading, not check. The public response to the Kraken platform, however, is alarming. In the case of the justification of the decision of the company to participate in the Initiative, said Kraken, “the market manipulation for the most crypto-traders does not matter,” but at the same time, “that fraud in the industry are widespread.” In contrast to the Exchanges Binance and Gate.io CEO Jesse Powell, Kraken replied to the report with a witty criticism. He tweeted: “NY is this abuse, driving, control-addicted Ex, you have three years broke up, but they followed you, criticized your new relationship and can’t accept that you’re happily moved on without you and it is you, since then, better.”

This Tweet spread like wildfire through the digital networks, and was supported from all over the world with retweets. Many other comments stated that the report was extremely unprofessional. The staff of Kraken not welcomed the report with heat. Another attack against Barbara Underwood came from Erik Voorhes (Start-Up Investor), Jesse’s statement is supported and his opinion on this subject expressed. He explained that New York, as it stands in the centre of the global financial world needs to change its attitude to crypto-currencies soon. This answer of the octopus was already expected. Kraken continued on Twitter that it is “against the highly unprofessional / malicious implication of protests that we operate because we have not responded to the voluntary request for information, illegally *could*. We were not informed that we operate in New York. The attorney General is now trying the case, the public opinion is real.“

Coinbase denies involvement in Bitcoin trading

Mike Lempres, Chief Policy Officer of Coinbase, stepped into the spotlight and corrected the wrong interpretations of static data from the New York regulatory authorities have been published on the crypto-currency. The report mentioned that Coinbase trillions of dollars traded, but many do not have this addressed as a legal problem. Lempres said in his opinion by the Medium of Post that the company aimed at the trust stock exchange is the most for the purchase, storage and trading of crypto-currencies. Therefore, the company will compromise, under any circumstances, the safety of its customers. Coinbase announced that almost 20 percent of the is on your platform volume exported due to proprietary trading. Consequently, the report was viewed as unprofessional, and his claims were not taken up by the mass. Therefore, the New York regulatory authorities would be well advised to proceed in publishing its next report on this issue cautious.

If you are interested in other interesting news, read are what can mean the Start of StellarX.

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