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Current State of Crypto Regulation in New York
April 2023Cadwalader Financial Services partner Mercedes Kelley Tunstall and associate Nikita Cotton note that as crypto platforms come under increasing scrutiny, the state of New York in particular has been establishing clear regulatory expectations through enforcement actions involving two crypto exchanges (CoinEx and KuCoin). These enforcement actions are consistent with other recent actions taken against crypto platforms by the NY AG, in addition to other state authorities, the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Department of Justice (DOJ). Of course, the actions also come on the heels of the well-publicized, high-profile bankruptcies of other crypto platforms.
This article examines these recent developments, providing context and highlighting the legal theories involved.
