The new York court ordered to freeze transfer Tether on Bitfinex. It will all turn out?

High judge of the state of new York Joel Cohen ruled cryptocurrency exchange Bitfinex and its residing to affiliated Issuer stablon Tether to provide all loan documentation. We are talking about a large loan, which the company recently issued Bitfinex. According to the decree, now Tether can not borrow the assets Bitfinex and other parties, if not associated with the operating activities of companies.

Tether also can’t allocate any funds from the reserves managers, employees or other persons, with the exception of salaries and regular payments to contractors, consultants or suppliers.

No Bitfinex or Tether not entitled in any way to change the documents requested by the Prosecutor General of the state of new York. The validity of the injunction will expire after 90 days, however, the attorney General may apply to the court for its extension.

It is worth noting that the company continues to invest its reserves and write them on the operations. In previous trials, the company’s representatives has admitted that he used the reserves of the company for investment purposes. However, what exactly is meant by investment objectives — is still not defined.

Guide Binfinex praised the court’s decision

Today’s court ruling leaves no doubt that Tether and Bitfinex have the right to conduct business as usual. Even during the pre-ban.

Representatives also drew attention to the unfair actions of the representative of the Prosecutor General. According to them, they “forgot to take into account all previous incidents in which the exchange actively cooperated with the investigation for the successful completion of the investigation“.

In this matter we will vigorously protect first and foremost our customers, business and the community around them from unfounded claims of the General Prosecutor’s office.

Recall that in late April 2019 became aware that Bitfinex hid the fact the loss of $ 850 million, which against the exchange began the trial.

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