NEW YORK— Crypto firm Digital Currency Group is under investigation by U.S. prosecutors over money transfers at its brokerage subsidiary Genesis.
The Securities and Exchange Commission and the U.S. Department of Justice's Eastern District of New York office are looking into financial transfers between DCG and Genesis' crypto-lending unit, called Genesis Global Capital, Bloomberg reported.
The U.S. authorities are also probing what investors were told about those transactions, Bloomberg said in its report, citing people familiar with the matter.
The crypto group defended its practices and said it wasn't aware of any New York probe, Bloomberg noted.
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