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FX.co ★ NYS Attorney General Letitia James warns on cryptocurrencies

NYS Attorney General Letitia James warns on cryptocurrencies

NYS Attorney General Letitia James warns on cryptocurrencies

On Monday, New York State Attorney General Letitia James said investing in digital assets is "impractical."

Her tweet came after her office issued a "warning to investors" about the risks associated with the cryptocurrency markets. The Memorandum includes risks such as: (1) the underlying value is very subjective and unpredictable, (2) an increased risk of market manipulation, (3) potential difficulties in cashing investments.

The warning came amid strong interest from retail investors, who are contributing significantly to the ongoing Bitcoin rally and supporting growing demand from institutional and corporate buyers.

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NYS Attorney General Letitia James warns on cryptocurrencies

James also made a presentation to industry participants, after filing a lawsuit against Coinseed and settling an investigation with Tether and Bitfinex. "We are making it clear to the entire industry that either you are playing by the rules or we will turn you off," she said.

Meanwhile, Goldman Sachs continued to restart its cryptocurrency trading platform. CoinDesk even confirmed that it will support Bitcoin futures and will be part of the US division of Goldman Global Markets. The service will resume by mid-March.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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