Ethereum

Read

James

<div class="cryptonews">
 <p class="is-style-lead">KuCoin was the latest crypto exchange to agree on fines with New York regulators as the state cracked down on non-compliant service providers.</p>
 <p>The Seychelles-based digital asset trading venue will pay $22 million as part of a <a rel="noopener noreferrer nofollow" title="settlement" href="https://thebittimes.com/tag/settlement.html">settlement</a> with the state of New York over a lawsuit alleging commodities and securities violations.&nbsp;</p>
 <p>The <a rel="noopener noreferrer nofollow" title="settlement" href="https://thebittimes.com/tag/settlement.html">settlement</a> included $5.3 million in penalties paid directly to New York and $16.7 million worth of crypto reimbursements to some 177,800 resident investors. Additionally, KuCoin has agreed to shutter all its state operations completely.&nbsp;</p>
 <p>Despite the news, KuCoin’s exchange token KCS saw double-digit gains, trading over $13.30 at press time. The token was a top gainer on Dec. 12, as reported by crypto.news.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14226563">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/12/12/ed8d825f36d5d991396bcd49c9f21661.webp.webp">
   <img decoding="async" width="1024" height="647" src="https://cdn.thebittimes.com/images/2023/12/12/ed8d825f36d5d991396bcd49c9f21661.webp" alt="KuCoin token data"> 
  </picture>
  <figcaption class="wp-element-caption">
   KCS up double-digits in 24 hours | Source: CoinMarketCap
  </figcaption>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> CoinGecko reports top CEXs, Kucoin falls out of top 10
 </div>
 <h2 class="wp-block-heading" id="new-york-s-crackdown-on-kucoin-and-crypto">New York’s crackdown on KuCoin and crypto</h2>
 <p>In March, New York Attorney General Letitia James sued KuCoin for running an unregistered commodities and securities exchange as it allowed New York investors to buy and sell cryptocurrencies on its platform without obtaining a regulatory license.&nbsp;</p>
 <p>James also said that Ethereum (ETH), crypto’s second-largest market cap token, counted as a security in the lawsuit.&nbsp;</p>
 <p>The suit was one of several litigation actions targeted at crypto companies suspected of operating illegally within the state of New York, in line with the Crypto Regulation, Protection, Transparency, and Oversight Act.</p>
 <p>James had previously sued ex-Celsius CEO Alex Mashinsky and his fallen crypto titan for fraud. CoinEx was banned from doing business in New York and paid $1.7 million in penalties to <a rel="noopener noreferrer nofollow" title="settle" href="https://thebittimes.com/tag/settle.html">settle</a> a lawsuit.</p>
 <p>The Attorney General’s office also accused Gemini, Genesis, and Digital Currency Group (DCG) of harming investors in a massive $1 billion crypto fraud lawsuit in October 2023. DCG and CEO Barry Silbert said the suit was “baseless”.</p>
 <p>James and her office have often stressed the need to standardize crypto in the U.S. by implementing policies that guarantee safe conduct by operators while protecting digital asset users.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> New York AG proposes ‘nation-leading’ crypto regulation
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/kucoin-to-exit-new-york-in-22m-settlement-tbt73447.html">https://thebittimes.com/kucoin-to-exit-new-york-in-22m-settlement-tbt73447.html</a></p>

KuCoin to exit New York in $22m settlement

목차

TheBitTimes

2023년 12월 12일에 게재된 다른 기사

Cardano (ADA) Furious as Price Regains Previous Losses

Weekly Cryptocurrency Analysis: Altcoins Are In A Shaky Move, The Market Is Experiencing Overboug...

Solana Challenges XRP for Market Ranking Amidst Remarkable Growth!

Binance Coin Forming a Head-And-Shoulders Pattern, Analyst Says a Close Above The Neckline Could ...

Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His ...

DOJ Indicts Two in $25M AI Crypto Ponzi Scheme

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!