The Bitfinex exchange was granted a motion to modify the injunction of the New York Attorney General, after the market operator argued the investigation and injunction were in bad faith and failed to take into account the specifics of the business.
Judge Joel M. Cohen of the New York Supreme Court concluded that investigating Bitfinex under the New York Martin Act for fraud “does not provide a roving mandate to regulate commercial activity.” Thus, the injunction will expire in the next 90 days, and the NYAG will only have this time to make its case against Bitfinex.
“We are grateful that Judge Cohen recognized, in argument before his court, that the original injunction obtained by the New York Attorney General was “both amorph...