Judge Punts on Decision in New York Case Against Bitfinex and Tether

A New York judge has punted on deciding whether crypto exchange Bitfinex and stablecoin issuer Tether need to turn over documents and otherwise comply with a state investigation.

The New York Attorney General’s office (NYAG) is looking into allegations that Bitfinex covered up the loss of nearly $1 billion in client funds by borrowing from Tether’s reserves. While the case has been ongoing since April, Monday’s hearing primarily revolved around whether the NYAG had the authority to conduct its investigation.

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