KuCoin, the Seychelles-based crypto exchange, came under the regulatory radar. Herein a New York State Attorney targeted the exchange over unregistered activities.
US regulators continue to take steps to crack down on crypto exchanges operating without proper registration with local authorities. In this case, New York Attorney General Letitia James has filed a lawsuit against the cryptocurrency exchange KuCoin, according to the March 09 announcement.
Per the legal document, Kucoin, one of the largest exchanges, sold and purchased unregistered securities and commodities to users.
Regulating the Space
នេះ បណ្តឹង also categorized Ethereum as an unregistered សន្ដិសុខ. Per the document, users could ‘buy and sell popular virtual currencies, including ETH, LUNA, TerraUSD (UST), securities, and commodities. ‘This action is one of the first times a regulator is claiming in court that ETH, one of the largest cryptocurrencies available, is a security,’ the filing stated.
Source: https://beincrypto.com/newyork-regulator-sues-kucoin-sale-unregistered-securities/