The recent Cryptocurrency report released by the New York Office of the Attorney General [OAG] has created shockwaves that have reached the shores of India. Ajeet Khurana, the CEO of Zebpay stated:
“Glad to see the Office of the New York State Attorney General take interest in understanding the present state of Cryptocurrency trading in the US. I enjoyed reading their report titled the VIRTUAL MARKETS INTEGRITY INITIATIVE REPORT that they published the day before yesterday.”
The report was launched with the aim to protect investors and cryptocurrency enthusiasts who partake in cryptocurrency trading. The report was a compilation of an inquiry that commenced in April 2018.
The cryptocurrency exchanges that voluntarily came under the purview of the survey are Bitfinex, Bitstamp, bitFlyer USA, Bittrex, Coinbase, Gemini, itBit, Poloniex, Tidex and HBUS, a strategic partner of Huobi. The exchanges that did not participate in the inquiry include Binance, Gate.io, Huobi global Limited and Kraken.
The basic parameters of the inquiry involved checking for information on exchange operations, measures against market manipulations and internal controls from ten different cryptocurrency exchanges. Barbara Underwoord, the Attorney General stated:
“Generally accepted methods for auditing virtual assets do not exist, and trading platforms lack a consistent and transparent approach to independently auditing the virtual currency that is purportedly in their possession.”
Ajeet Khurana’s statements reflect the growing sentiment for cryptocurrency in India, especially at a point where the Supreme Court has pushed the decision on cryptocurrency trade in India. The Securities and Exchange Board of India [SEBI] had earlier issued a press release which announced that a new body was being formed that would undertake operations to explore the fintech industry. The report stated:
“Assessing technological solutions for regulatory functions of SEBI viz. information management and data mining, risk management including cybersecurity, intermediary supervision, consumer protection, etc. through application of new technological solutions like application of distributed ledger technology, big data, data analytics, artificial intelligence, machine Learning etc.”
Khurana’s company Zebpay was also in the news recently when they announced that they would return all the INR present on the platform back to its respective owners. This announcement had come in the wake of the Reserve Bank of India’s announcement that curtailed cryptocurrency trade in the country. The company had said:
“Zebpay crypto wallets will continue to work, and you are welcome to hold your coins and tokens with us. Of course, if you want to withdraw (or deposit) crypto, you can always do it as you choose.”
The post Zebpay Ceo Applauds NY Attorney General report, stresses upon cryptocurrency analysis appeared first on AMBCrypto.
This post first appeared on AMBCrypto - Latest Cryptocurrency News, please read the originial post: here
