CoinEx faces New York ban, ordered to pay $1.7m in penalties
Following a lawsuit, CoinEx, a cryptocurrency platform, has been prohibited from conducting operations in both New York and the US. The firm was then ordered to pay $1.7 million in penalties and refunds to affected individuals in New York. An agreement reached CoinEx, the cryptocurrency platform, has reached an agreement to settle a lawsuit that was filed against it in February by the state of New York. There are serious consequences for ignoring New York laws. As a result of our lawsuit, cryptocurrency platform @coinexcom is banned from operating in New York and the rest of the country and will pay $1.7 million in penalties and refunds for impacted New Yorkers. https://t.co/U3wkdfHu3o — NY AG James (@NewYorkStateAG) June 15, 2023 In February, New York Attorney General Letitia James had filed a lawsuit against cryptocurrency exchange CoinEx, accusing the company of falsely representing itself as an exchange and failing to register as a securities and commodities b...