Ether hits 2-month low as New York AG labels crypto token as security

New York Attorney General Letitia James on Thursday referred to Ether as a security in her lawsuit against KuCoin for failing to register with the state before facilitating cryptocurrency transactions on its platform. "The situation in Ethereum (the blockchain that underpins Ether) could get real ugly," investment research firm Citron Research tweeted. The "secrets" of the Ethereum network will be unveiled as James builds out her case, Citron said, adding that the network was being controlled

• 2023-03-10
• Letitia James Citron Research stocks and bonds New York attorney general Cryptocurrency

Crypto Exchange KuCoin Sued in New York’s Industry Crackdown

(Bloomberg) -- New York Attorney General Letitia James is taking another swing at the cryptocurrency industry with a lawsuit accusing KuCoin, one of the world’s most popular crypto-exchanges, of operating in the state without a license.Most Read from BloombergCompanies Are Telling Us the Real Reason They're Still Raising PricesBiden to Urge 25% Billionaire Tax, Levies on Rich InvestorsIn Biden’s Tax-the-Rich Budget, Capital-Gains Rates Near 45%Rookie Traders Are Earning $400,000 in One Unlikely

• 2023-03-10
• Letitia James Bloomberg KuCoin trading platform New York exchange New York Attorney General

New York sues KuCoin, expands cryptocurrency crackdown

NEW YORK (Reuters) -New York's attorney general on Thursday sued KuCoin for failing to register with the state before letting investors buy and sell cryptocurrencies on its platform, as part of her effort to rein in what she calls "shadowy" cryptocurrency companies. Attorney General Letitia James said the fourth-largest cryptocurrency platform violated the Martin Act, a powerful state securities law, by transacting in cryptocurrencies, selling the product "KuCoin Earn" to generate income for it

• 2023-03-10
• Letitia James New York cryptocurrencies cryptocurrency platform KuCoin

New York sues CoinEx, says crypto exchange failed to register with state

NEW YORK (Reuters) -CoinEx was sued on Wednesday by New York Attorney General Letitia James, who accused the cryptocurrency exchange of transacting business illegally because it did not register with the state. In papers filed with a New York state court in Manhattan, James accused CoinEx of having "engaged in repeated and persistent fraudulent practices." She said CoinEx's failure to register as a commodity broker-dealer, securities broker or securities dealer before buying and selling tokens

• 2023-02-23
• Letitia James cryptocurrency exchange New York CoinEx New York Attorney General