{"id":134714,"date":"2023-03-10T11:19:15","date_gmt":"2023-03-10T11:19:15","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=134714"},"modified":"2023-03-10T12:52:33","modified_gmt":"2023-03-10T12:52:33","slug":"nyag-sues-kucoin-exchange-over-failure-to-register","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/nyag-sues-kucoin-exchange-over-failure-to-register\/","title":{"rendered":"NYAG Sues KuCoin Over Failure to Register"},"content":{"rendered":"
Letitia James, the attorney general of New York, declared that her office had initiated legal action against the Seychelles-based cryptocurrency exchange Kucoin as part of its ongoing crackdown on cryptocurrency platforms.<\/p>\n
Members of the Office of the Attorney General (OAG) could open a KuCoin account using a computer with a New York IP address and buy and sell digital tokens for a fee. This was despite the fact that the exchange was not registered in the state<\/strong>, according to the statement<\/a>.<\/strong><\/p>\n The office further claims that KuCoin trades a number of coins that are regarded as commodities or securities<\/strong>, including Terra (LUNA)<\/strong>, TerraUSD (UST)<\/strong>, and Ethereum (ETH)<\/strong>. It also claims that its lending product, KuCoin Earn, offers unregistered securities.<\/p>\n In addition to the case against the KuCoin exchange, James and the OAG maintain that Ethereum (ETH)<\/strong><\/a>, the second-largest crypto asset by market capitalization, is security.<\/p>\n <\/p>\nThe NYAG Calls Ethereum (ETH) Security<\/h2>\n