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Coinbase and other crypto exchanges get probed by New York’s Attorney General

Coinbase and other crypto exchanges get probed by New York’s Attorney General
[Photo: Lonnie Tague, United States Department of Justice/Wikimedia Commons]

New York Attorney General Eric Schneiderman has launched an investigation into cryptocurrency exchanges in the hopes of providing transparency and accountability to a marketplace that frequently operates in a black box.

The AG has sent letters to 13 major virtual currency trading platforms, asking for information about their operations, internal controls, and consumer protections. Platforms include Coinbase, bitFlyer, Bitstamp, and the Winklevoss twins’ site, Gemini Trust.

“[T]oo often, consumers don’t have the basic facts they need to assess the fairness, integrity, and security of these trading platforms,” Schneiderman said in a statement.

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