CEO of bitcoin exchange traderce.com Jesse Powell criticized the actions of new York state regulators, comparing them to a girl who pursues her ex-boyfriend even after a breakup.
New York is exactly the tough, controlling ex that you broke up with three years ago, but who still haunts you, casting a shadow over your new relationship, because they do not want to admit that you are happy and move on without her,” said Powell.This reaction was provoked by a report from the state attorney General’s office, in which the Agency stated that bitcoin exchanges are vulnerable to market manipulation and do not have standard methods of consumer protection that are available in traditional financial markets.
In addition, officials suggested that the traderce.comn trading platforms, Gate.io and Binance is operating illegally in the state without obtaining a BitLicense. The Prosecutor’s office submitted the relevant report to the new York financial services Authority (NYDFS).
Eric Voorhees, CEO of ShapeShift exchange platform, noted that new York will lose its leading position in the world of Finance if it does not change its policy.
“Such people never seem to understand what led to the breakup…,” Voorhees wrote.
traderce.com also sarcastically thanked state taxpayers for funding the report, which contains non-public data from competitors.Representatives of the exchange also added that the refusal to voluntarily provide information does not mean that the platform is operating illegally in new York.
It is noteworthy that the report was published the day before the expiration of bitcoin futures on the Chicago Board of options (CBOE).
“Who trades on insider data? Are measures being taken to prevent [probable] market manipulation organized by the Prosecutor’s office?”, traderce.com noted.
Recall that Coinbase denies charges of trading in its own interests and is ready to cooperate with regulators.