New York Attorney General Directs Two Crypto Lending Platforms to Cease Activities

New York Attorney General Directs Two Crypto Lending Platforms to Cease Activities
New York Attorney General Letitia James ordered two crypto lending platforms to cease their activities, which were determined to be unregistered and unlawful.The platforms are in violation of offering securities and/or commodities without having registered with the Office of the Attorney General (OAG), according to a statement that didn’t identify the companies.Three further platforms were asked to provide information about their activities and products. That includes data related to loan-to-value ratios, collateral options and payout processes, the minimum and maximum amount that can be borrowed, the lending rate and all fees payable.The actions have been taken by the OAG in…