The One Aspect of the Schneiderman Thing That No One is Talking About (or They are, and I’m not Listening)
New York AG Eric Schneiderman stepped down after some scandalous news broke. This is relevant to crypto as that is the same Schneiderman who had just put out a crypto inquiry.
Schneiderman has been a vocal critic of Trump, and a vocal advocate for consumers when it comes to cryptocurrency.
It is unclear which of those truisms, if either, led to a scandal coming to light about him, but it wouldn’t be uncommon in either the political or crypto space for that sort of thing given the amount of money and power on the line.
There is no way to know what the case was in this case, so let us leave it at that.
What we do know however is that his inquiry into crypto exchanges is likely not going to have the same punch given that Schneiderman has left office. It is unclear if his next in line will pick up where he left off.
NOTE: So far a few companies including Coinbase have complied with the inquiry and Kraken has refused (although since they don’t operate in New York, it is likely a non-issue).