New York Attorney General's Office Releases Report on the Illegal Issue of Securities by Bitfinex and Tether

On July 10th, the New York Attorney General's Office (NYAG) recently submitted a report detailing Bitfinex and Tether allegedly issuing illegal trading securities in New York State and being a non-registered securities operator. It is reported that since April this year, NYAG has been actively investigating Bitifnex and its partner company Tether. The most recent documents include 28 exhibits that were sent to the Supreme Court of New York. According to NYAG, Bitfinex and Tether issued unsecured “loans” to specific investors, who questioned each Tether stablecoin's support in the reserve account for $1:1.