"Legitimate entities generally like to demonstrate to their investors that their money will be protected," Amy Spitalnick, spokeswoman for New York Attorney General Eric Schneiderman, said in a statement.
This is very basic information that any credible platform should have on hand and be willing to share with their investors," she said.
Schneiderman's office asked 13 cryptocurrency exchanges on Tuesday to complete a questionnaire by May 1 to share details on areas such as ownership, fees, trading suspensions and money laundering [...]
Powell said the last time exchanges complied with New York's request for information, they were encumbered with the BitLicense. "Kraken left New York because New York is hostile to crypto and this 'questionnaire' we received today proves that New York is not only hostile to crypto, it is hostile to business," he said.
"The resource diversion for this production is massive. This is going to completely blow up our roadmap!" Kraken co-founder and CEO Jesse Powell said Wednesday on Twitter.