New York's attorney general yesterday announced a new bill, aiming to bring tighter rules to combat crypto fraud.
New York’s attorney general announced a new bill, aiming to bring tighter rules to combat crypto fraud.
On 5 May, New York’s Attorney General announced tighter steps to combat the fraud and dysfunction that have become trademarks of cryptocurrency, a move that is likely to increase national attention on the multibillion-dollar crypto business.is touted to be one of the strongest ever, focusing on fraud patterns in an industry with little federal control, potentially costing customers hundreds of millions of dollars each year.
Moreover, exchanges would have to give material information about issuers to investors, including risk and conflict-of-interest disclosures. Crypto promoters must register and disclose their involvement in any issuer whose crypto assets they promote. Furthermore, crypto markets would be forced to develop and disclose listing guidelines.
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