Undiskutable facts: Bitcoin exchange Bitfinex shows the New York office of the public Prosecutor the middle finger

the The scandal-Bitcoin exchange Bitfinex, as well as the verbandelte Tether Limited to defend against the current charge of the New York office of the public Prosecutor. You will have to answer to the accusation, to have 850 million dollars embezzled. Instead, they rely on a different strategy.

By Phillip Horch
22. May 2019BTC$7.865,00 -0.46% part Facebook Twitter LinkedIn xing mail

$ 850 million dollars in misappropriated customer funds or the Bitcoin exchange Bitfinex, as well as the Stable-Coin-company-Stable-Limited to fight back against the lawsuit the New York attorney General. [The background to the Bitfinex drama to be found here, among other things].

A Bitcoin exchange strikes back

Because, as is clear from a Letter of the public Prosecutor's office: she sees herself not in responsibility, at least not in the U.S. state of New York. Accordingly, it is on the part of lawyers:

[ ... ] the New York Prosecutor's office has initiated this special procedure supposedly to protect "New York investors." But the [New York attorney General] has taken two crypto-currency to take to target that have nothing to do with New York investors – the company does not allow New Yorkers on their platforms, and they neither advertise [there], nor will they entertain in a different way shops. [The Prosecutor] has identified in any way [...] "the victims" in New York (or, to mention it: anywhere else).

Also, the font of the attorneys, have applied to the New York office of the public Prosecutor, a law that was not appropriate. In the case of this law, it is, in fact, the "Martin Act", is designed for securities and commodities, ["Commodities"]. The affected Stable Coin Tether is not the case, however, under this law.

In the face of this "undiskutablen facts," the Letter to the New York office of the public Prosecutor the complete charge to. Therefore, you are requested, therefore, that these "onerous demands" that hovered over BitFinex and Tether set, with immediate effect.

classification of the receivables

So bitter this pill might taste: The points that the lawyers of the Bitcoin exchange and its allies are making, are justified. Finally, in the document that they conducted their business mainly from Hong Kong, Switzerland and Taiwan. They also operated any business in the US state of New York and operated there, so no advertising.

You may feel the judgment of the chamber court of Berlin reminds us that the Same is decided in October of last year, BaFin had exceeded the prohibition of Bitcoin vending machines your skills. The conclusion: Until Further notice, the trading of Bitcoin in Germany is legal. The connection with the Causa BitFinex: Both the New York as well as the German authorities have not the necessary means to respond adequately to processes in the Bitcoin Ecosystem. The new financial technologies, therefore, is not with existing laws summarize. The attempts at Regulation in these States – at least until there is appropriate legislation – doomed to fail. In this light, the objective of Bitcoin appears to the Left of the ban is particularly absurd.

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