In her ongoing efforts to crack down on unregistered cryptocurrency platforms, New York Attorney General Letitia James has filed a lawsuit against KuCoin for several violations, including failing to register as a securities and commodities broker-dealer and falsely representing itself as an exchange. The lawsuit alleges that the Office of the Attorney General was able to engage in cryptocurrency transactions on KuCoin’s platform in New York, despite the company not being registered in the state.
Through this enforcement action, Attorney General James aims to put an end to KuCoin’s operations in New York and to block access to its website until it complies with state law. This latest legal action is part of Attorney General James’ wider efforts to regulate cryptocurrency platforms and protect consumers in the state.