A New York State appeals court affirmed on July 9 that the state attorney general’s fraud investigation into iFinex et al. — i.e., iFinex, Bitfinex and Tether Holdings — could continue. Whether that probe will result in litigation against the company that issues Tether (USDT), the world’s most widely used stablecoin, is anyone’s guess, but if it does, it might promote a more regulated stablecoin industry.
As Felix Shipkevich, an attorney specializing in cryptocurrency-related legal and regulatory matters at Shipkevich PLLC, told Cointelegraph: “The New York attorney general, NYAG, is often viewed as the nation’s most important state enforcer of financial laws.” He added:
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