Cryptocurrency: New York launches inquiry, saying people lack 'basic facts'

Attorney general says inquiry into practices of platforms for trading Bitcoin and other currencies is an effort to protect consumers

The New York attorney general, Eric Schneiderman, launched an inquiry into cryptocurrency exchanges on Tuesday arguing that consumers often don't have access to "basic facts" about how they operate.

Schneiderman described the inquiry into the policies and practices of platforms used by consumers to trade cryptocurrencies such as Bitcoin as part of a broader effort to protect cryptocurrency investors and consumers.