{"id":38173,"date":"2021-03-02T10:59:26","date_gmt":"2021-03-02T08:59:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38173"},"modified":"2025-08-30T03:20:02","modified_gmt":"2025-08-30T00:20:02","slug":"new-york-prosecutors-warn-that-cryptocurrency-investments-are-extremely-risky","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/new-york-prosecutors-warn-that-cryptocurrency-investments-are-extremely-risky\/","title":{"rendered":"New York prosecutors warn that cryptocurrency investments are extremely risky"},"content":{"rendered":"<p>The New York Attorney General&#8217;s Office (NYAG) <a href=\"https:\/\/ag.ny.gov\/press-release\/2021\/attorney-general-james-warns-investors-about-extreme-risk-when-investing\" target=\"_blank\" rel=\"nofollow noopener\">warned<\/a> about the &#8220;extreme&#8221; risk of investing in digital assets. The agency also reminded participants in the cryptocurrency industry of accountability.<\/p>\n<p><!--more--><\/p>\n<blockquote>\n<p>&#8220;I warn New Yorkers and investors across the country that investments in this volatile market are imprudent and could lead to enormous losses,&#8221; said Attorney General Letitia James.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Let this also serve as a warning to those facilitating these trades:<\/p>\n<p>If you don\u2019t play by the rules, we will not hesitate to shut down your operations.<\/p>\n<p>\u2014 NY AG James (@NewYorkStateAG) <a href=\"https:\/\/twitter.com\/NewYorkStateAG\/status\/1366431559126044675?ref_src=twsrc%5Etfw\">March 1, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nJames pledged to &#8220;shut down&#8221; crypto companies that &#8220;operate outside the rules.&#8221; She reminded that they are required to <a href=\"https:\/\/ag.ny.gov\/sites\/default\/files\/crypto-industry-notice.pdf\" target=\"_blank\" rel=\"nofollow noopener\">register<\/a> in the state.<\/p>\n<p>Earlier, the NYAG announced a settlement of the dispute with cryptocurrency exchange Bitfinex and Tether. The office accused Bitfinex of attempting to hide a loss of $850 million through the reserves of Tether. The companies did not admit guilt, but agreed to <a href=\"https:\/\/u1f987.com\/en\/news\/bitfinex-and-tether-to-pay-new-york-state-18-5-million-in-settlement-over-financial-operations\">pay the state $18.5 million<\/a>.<\/p>\n<p>Earlier in February 2021, the New York Attorney General <a href=\"https:\/\/u1f987.com\/en\/news\/new-york-authorities-accuse-coinseed-of-1-million-fraud\">accused the cryptocurrency startup Coinseed<\/a> and two of its top executives of deceiving investors in excess of $1 million.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full feed of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Attorney General&#8217;s Office warned about the &#8216;extreme&#8217; risk of investing in digital assets. The agency also reminded participants in the cryptocurrency industry of accountability.<\/p>\n","protected":false},"author":1,"featured_media":38174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[748,1593,26],"class_list":["post-38173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-new-york","tag-prosecutor-generals-office","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=38173"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38173\/revisions"}],"predecessor-version":[{"id":38175,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38173\/revisions\/38175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/38174"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=38173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=38173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=38173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}