{"id":1299,"date":"2013-08-17T11:58:26","date_gmt":"2013-08-17T11:58:26","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/08\/new_york_subpoenas_22_digitalc"},"modified":"2022-03-10T16:38:14","modified_gmt":"2022-03-10T22:38:14","slug":"new-york-subpoenas-22-digitalc","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/new-york-subpoenas-22-digitalc\/","title":{"rendered":"New York Subpoenas 22 Digital-Currency Companies and Investors Over Bitcoin"},"content":{"rendered":"

\t\t\t\tThe New York State Department of Financial Services has subpoenaed a number of investors and digital-currency companies to better understand the Bitcoin (XBT) arena. Letters were sent to key players requesting information about consumer protections, money laundering controls, pitch books, source funding and investments strategies. Among the subpoenaed are Bitcoin exchanges and processors, major investors, and others, including ZipZap, Google Ventures, Winklevoss Capital Management, and Tribeca Venture Partners. <\/p>\n

NYSDFS superintendent Benjamin Lawsky says that the financial regulator believes it is essential that there be proper regulatory standards for virtual currencies that will benefit the industry in the long run. The department wants to unearth illegal activities and ensure that the money of Bitcoin companies customers’ are safe. (Consumers have reportedly been complaining about the speed that virtual currency transactions are being processed.) When there is no other primary regulator NYSFDFS is allowed to establish regulation. <\/p>\n

It is important to note that just because a subpoenaed was issued does not mean that any criminal activity occurred. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The New York State Department of Financial Services has subpoenaed a number of investors and digital-currency companies to better understand the Bitcoin (XBT) arena. Letters were sent to key players requesting information about consumer protections, money laundering controls, pitch books, source funding and investments strategies. Among the subpoenaed are Bitcoin exchanges and processors, major investors, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4038],"tags":[],"class_list":["post-1299","post","type-post","status-publish","format-standard","hentry","category-bitcoin"],"yoast_head":"\nNew York Subpoenas 22 Digital-Currency Companies and Investors Over Bitcoin — Investor Lawyers Blog — August 17, 2013<\/title>\n<meta name=\"description\" content=\"The New York State Department of Financial Services has subpoenaed a number of investors and digital-currency companies to better understand the Bitcoin — August 17, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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