New York Attorney General has launched an inquiry into cryptocurrency exchanges including Coinbase

The New York Attorney General’s office confirmed that Mr Eric Schneiderman is investing 13 cryptocurrency exchanges, this is being conducted for there to be transparency and protect investors. Mr Schneiderman has requested that these exchanges provide disclosures of their operations.

In the statement from Mr Schneiderman from the office, he said "With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money. Yet too often, consumers don't have the basic facts they need to assess the fairness, integrity, and security of these trading platforms,".

The general’s office had expressed their deep concerns of problems with some exchanges, that operate with digital currencies. Stating that "reports of the theft of vast sums of virtual currency from customer accounts," as well as outages, "possible market manipulation," and difficulty withdrawing funds.