The host of CNBC’s Crypto Trader Show, and founder of crypto investment firm Onchain Capital, Ran NeuNer, has welcomed the move by New York Attorney General Letitia James to take legal action against Bitfinex over alleged fraud. NeuNer said on a Twitter post that the news is positive because it will weed out the cryptocurrency industry’s bad actors. In his views, this could ultimately clear the ground for legit investment and real development down the road.

“I think the move by the NYC attorney general against Bitfinex is a good thing for the ecosystem. We need bad players and frauds to be taken on by legislators, and we may even need strong regulation to get real money into the ecosystem. This is part of the clean-up,” he said.

He wondered how a company could give another “company $850m to process payments on its behalf without some real due diligence/guarantees in place.”

A lawsuit filed against iFinex which owns and operates Bitfinex alleges that the company officials failed to disclose adverse facts about the…

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Source: https://thebitcoinnews.com/cnbc-host-ran-neuner-welcomes-move-by-ny-attorney-general-against-bitfinex-says-it-will-weed-out-bad-actors/