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The NYAG investigation is about what happened up to 2019 or so. What has happened since (which includes printing 33 of those 34 billion) is a separate matter,
by Clewza313 6y ago
The NYAG investigation is about what happened up to 2019 or so. What has happened since (which includes printing 33 of those 34 billion) is a separate matter, and NYAG is basically saying it's irrelevant because nobody in NY should be able to use Tether/Bitfinex anymore.
- TacticalCoder 6y agoWhat's confusing is that in addition to the slap on the wrist of 18.5m and the prohibition for BitFinex to operate in NY, it is written: "agreement with iFinex, Tether, and their related entities will require them to cease any further trading activity with New Yorkers, as well as force the companies to pay $18.5 million in penalties, in addition to requiring a number of steps to increase transparency." What are these steps to "increase transparency"? On activities related to these 850m or on the 33 bn+ printed since then? To benefit whom? New Yorkers cannot use BitFinex anymore. If it's now irrelevant to the NYAG because from NY's point of view BitFinex is out, why ask for "a number of steps to increase transparency"?