“KuCoin Faces Legal Action as New York State Attorney General Files Lawsuit”
The New York State Attorney General, Letitia James, has filed a lawsuit against KuCoin for offering crypto services in the state without proper registration. This marks the eighth lawsuit against shadowy cryptocurrency platforms by the AG. James claims that she was able to buy and sell cryptocurrencies on the Seychelles-based exchange, despite it not being registered in New York as a securities broker or dealer. The lawsuit, filed on March 9th, also alleges that KuCoin violated securities law by selling and offering to sell and purchase and purchasing cryptocurrencies that are securities. This move by the NY AG is part of a larger effort to regulate the cryptocurrency industry and protect investors from fraudulent activities.