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New York Attorney General Letitia James speaking during a press conference in New York City in August. Photo: David Dee Delgado/Getty Images

New York Attorney General Letitia James on Monday ordered two unregistered cryptocurrency lending platforms to cease operating in the state within 10 days and requested three other platforms to send her office information about their activities and products.

Why it matters: Due in part to a lack of clear regulations, crypto companies have been making various moves — and finding out that not all regulators agree with them.

  • James' office argued that virtual currency lending products are considered securities under the state's Martin Act, which requires companies offering such financial services to register with the attorney general's office in order to do business with New Yorkers.

What they're saying: "Cryptocurrency platforms must follow the law, just like everyone else, which is why we are now directing two crypto companies to shut down and forcing three more to answer questions immediately,” said James said in a statement.

  • “My office is responsible for ensuring industry players do not take advantage of unsuspecting investors. We’ve already taken action against a number of crypto platforms and coins that engaged in fraud or that illegally operated in New York," she added.

Go deeper: Dueling visions of U.S. cryptocurrency regulation

Go deeper

Felix Salmon, author of Capital
Nov 20, 2021 - Economy & Business

A billionaire's crypto win

People take pictures of a copy of the U.S. Constitution during an auction at Sotheby's last night. Photo: Yuki Iwamura/AFP via Getty Images

The story of a group of cryptocurrency traders failing to buy a copy of the Constitution shows just how much of a gulf there still is between the real world and the crypto world.

Driving the news: Hedge fund billionaire Ken Griffin outbid a group of 17,437 donors in an auction at Sotheby's last night, promising to pay $47.4 million for the document.

Inside Trump's hunt for "disloyal" Republicans

Illustration: Aïda Amer/Axios

Donald Trump and his associates are systematically reshaping the Republican Party, working to install hand-picked loyalists across federal and state governments and destroy those he feels have been disloyal, sources close to the former president tell Axios.

Why it matters: If most or all of Trump’s candidates win, he will go into the 2024 election cycle with far more people willing to do his bidding who run the elections in key states.

1 hour ago - Politics & Policy

CPI: The new jobs number

Grocery shoppers in Washington, D.C., last month. Photo: Ting Shen/Xinhua via Getty Images

The Consumer Price Index has replaced the jobs report as the most anticipated data drop by the U.S. government.

Why it matters: Rising prices tend to lower political fortunes. Washington and Wall Street are now waiting for the CPI number to flash at 8:30am ET around the 10th day of each month. This month's report — due Friday morning — will give a reading of how hot inflation ran in November.