New York's Attorney General has taken aim at two major cryptocurrency exchanges, accusing Coinbase and Gemini of operating an unlicensed gambling business in the state. According to a lawsuit filed by the Attorney General, the exchanges are facilitating transactions for unregistered online gaming platforms, effectively turning them into unregulated casinos. The lawsuit alleges that Coinbase and Gemini are violating state laws by allowing users to bet on sports events and play online games with cryptocurrency, without obtaining the necessary licenses. The move marks a significant escalation in the state's efforts to regulate the burgeoning cryptocurrency industry.
New York accuses crypto sites Coinbase, Gemini of illegal gambling Courthouse News
