On Wednesday, U.K. lawmakers said they want to clamp down on the "Wild West" cryptocurrency market and make Britain a legitimate home for the trading of digital currencies. Nearly 20% of executed volume on the cryptocurrency platform Coinbase was proprietary trading, according to the New York Attorney General. Mike Lempres, chief policy officer at Coinbase, said the company does not conduct trades for its own benefit; Coinbase Consumer quotes are filled from the exchange platform Coinbase Markets to provide an easy-to-use customer experience. The SEC has also been investigating whether Bitfinex violated anti-money laundering and know-your-client rules by allowing customers to buy bitcoin without disclosing their identities.
Nearly 20% of executed volume on the cryptocurrency platform Coinbase was proprietary trading, according to the New York Attorney General. Mike Lempres, chief policy officer at Coinbase, said the company does not conduct trades for its own benefit; Coinbase Consumer quotes are filled from the exchange platform Coinbase Markets to provide an easy-to-use customer experience. The SEC has also been investigating whether Bitfinex violated anti-money laundering and know-your-client rules by allowing customers to buy bitcoin without disclosing their identities.