The company’s lawyers iFinex Inc (the operator of Bitfinex and its parent company Tether Limited) has prepared a legal position filed by the prosecution regarding the charges. In court representatives of the company tried to cancel the earlier court injunction that prevents Tether Limited use of their reserves for lending to the stock exchange and other investment activities.

The essence of the legal position of lawyers: court order is based on incomplete and incorrect facts, no fraud, no victims, there is a unmotivated qualification stablon USDT as securities, the jurisdiction of the regulator in relation to the company Limited Tether is controversial.

Lawyers operator Hong Kong exchange also added that Bitfinex has never assumed the obligation to inform users all the information they consider as important.

However, the Supreme court of the state of new York upheld an injunction. The court also ordered the cryptocurrency exchange Bitfinex to provide the General Prosecutor of the state all necessary documents relating to the loss of Vietnam funds at $ 850 million.

Several comments were made by the court and to the claims of the Prosecutor’s office. Thus, the court found that the claim of the Prosecutor’s office should be revised as “not accurate enough to demonstrate the damage.”

In addition, the judge stressed that the question of whether stabilin USDT security remains open.

He asked the Prosecutor to investigate more thoroughly and explain how it Limited Tether and Bitfinex broke the Law Martin (Martin Act) on countering fraud.

The message to the Bitfinex and Tether are unable to convince the court of the illegality of accusations of the Prosecutor General’s office in new York appeared first on crypto.by.