Tether (USDT) Reaches $18.5 Million Settlement With NY AG

[waybesuricata]

Stablecoin Tether (USDT) and crypto exchange Bitfinex have reached a settlement with the New York State Attorney General.

The agreement requires Tether and Bitfinex to cease any further trading activity with New Yorkers, as well as pay $18.5 million in penalties, in addition to requiring a number of steps to increase transparency, according to an announcement from the Office of the Attorney General (AGO).

“This resolution makes clear that those trading virtual currencies in New York state who think they can avoid our laws cannot and will not,” said New York State Attorney General Letitia James.


Source and continuation of the article: https://beincrypto.com/tether-usdt-reaches-18-5-million-settlement-with-ny-ag/