(Bloomberg) -- New York Attorney General Letitia James said she ordered two cryptocurrency lending platforms to stop operating in the state, and sent three other platforms letters with questions about their operations. 

“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,” James said in a press release Monday. 

The release states that virtual currency lending products “fall squarely within any of several categories of ‘security’ under the Martin Act,” meaning they must be registered with the attorney general’s office. 

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