New York State Attorney General Laetitia James is best known for recently getting Tether and Bitfinex to agree to pay $ 18.5 million to settle a lawsuit.
James has publicly admitted this week that she considers it unwise to invest in cryptocurrencies. She released a statement. in which she pointed out to investors the risks of buying digital currencies.
The state attorney general stressed that the cost of cryptocurrencies is subjective and unpredictable. The prices of such instruments are periodically manipulated.
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Besides, holders of bitcoin or other coins may have problems converting them into fiat money. Many retail traders periodically lose their funds if they decide to buy cryptocurrency.
Laetitia James is on the list of those American officials who advocate the early implementation of rules for the use of digital assets.
In her investor note posted on the New York City Attorney's Office website last Monday, she warned crypto companies that they could face liquidation if they did not operate according to the rules set by the regulator.