Tether wants the state Supreme Court to stop the attorney general’s office from sharing documents requested by CoinDesk. CoinDesk is now a party to the proceedings.
In a closely watched case with wide-ranging implications for the crypto market, Tether has admitted no wrongdoing and will provide reports on USDT’s reserve composition for two years.
The NYAG has said Tether and Bitfinex have been cooperating in its inquiry, which is expected to progress more quickly once the documents are provided.
A New York judge ordered Bitfinex and Tether to turn over financial documents to the New York Attorney General's office, but left the timing to the parties to coordinate.
Bitfinex and Tether shouldn’t need more than two months to produce documents about USDT issuances and past operations in New York first ordered 17 months ago, an NYAG lawyer argued in a letter Monday.