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Bitfinex, Tether Transfers Blocked As NY Judge Narrows Order

Law360 (May 16, 2019, 10:15 PM EDT) -- An order enjoining cryptocurrency company Tether Ltd. and trading platform Bitfinex now has a 90-day time limit after being tightened by a New York judge, while core provisions safeguarding document requests and freezing a line of credit between the two companies were left intact.

New York Supreme Court Judge Joel Cohen narrowed an ex parte order announced by New York Attorney General Letitia James' office on April 25 enjoining Bitfinex and Tether after describing it as "vague" and "overbroad," as well as having the potential to disrupt the companies' regular course of business.

Central provisions of the injunction remain, however, after...

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