Representatives of the Coinbase crypto exchange called the accusations against the site from the New York Attorney General’s office groundless.
The office accused the site’s employees in trading the interests of the company.
According to the state prosecutor's office, 20% of the total number of transactions on the exchange, account for the share of the Coinbase account. The agency called it a high turnover of its own trade and said that this raises questions about the risks to customers.
According to the сhief policy officer at CoinbaseMike Lempres, the charges are not based on real facts, and the data that was voluntarily provided to prosecutors is misinterpreted. “Coinbase does not trade for the benefit of the company on a proprietary basis,” he added.
WHY IS IT IMPORTANT?
- Earlier this week, the New York Attorney General’s office forwarded information on the Kraken, Binance and Gate.io exchanges to the financial regulators, because they refused to cooperate with the agency. Now, the sites are suspected of illegal activities.
- At the same time, Coinbase itself transferred its corporate data on the company's assets, personnel and attracted financing in May. Then Lempres welcomed the participation of the New York Attorney General’s office in the maintenance of market transparency.
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