Kucoin Sued By New York Attorney And Asks For A Permanent Ban, ETH Is A Security

 this morning, Kucoin was denounced by notorious New York lawyer Letitia James for not complying with the state’s registration regulations before allowing investors to buy and sell cryptocurrencies on their platform. Letitia James’ attempt to take control of shadow crypto companies. Recently, Letitia James made a similar allegation against CoinEx.

The office also alleged fraud against former Celsius CEO Alex Mashinsky in January 2023 and issued a $45 million fine to Nexo around the same time. She said that KuCoin violated the Martin Act, a powerful securities law of the state, by trading in cryptocurrency, selling the product “KuCoin Earn” to generate income for itself and its investors, and calling itself an “exchange” falsely. The attorney general’s office also wants this exchange to provide the identities of those who participated in the purchase of securities or commodities on the exchange six years ago. The complaint also claims that Ethereum (ETH) – the second largest coin in the crypto market.


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