New York State Attorney General Suspends Cryptocurrency Exchange Platform CoinEx Over Allegations Of Illegal Operations

RediksiaSaturday, 17 June 2023 | 00:01 GMT+0000
new york state attorney general suspends cryptocurrency exchange platform coinex over allegations of illegal operations 6c24387

DIKSIA.COM - CALIFORNIA, New York State Letitia James has reportedly banned Hong Kong-based cryptocurrency exchange platform CoinEx from operating in the United States.

Later, James also seized over $1.7 million worth of CoinEx assets for not registering as a securities and commodities broker.

“As part of this consent order, CoinEx is prohibited from offering, selling or purchasing securities or commodities in the state of New York, nor is it prohibited from making its platform available within the state,” James said. Stated.

The deal would return assets totaling more than $1.1 million to 4,691 New York investors and pay state fines of more than $600,000.

Additionally, CoinEx is prohibited from creating new accounts for customers in the United States.

“This agreement should serve as a warning to cryptocurrency companies that ignoring New York law can have disastrous consequences,” James said.

“My firm will continue to take action against cryptocurrency companies that brazenly ignore the law, mislead investors, and endanger New Yorkers,” he continued.

After that, CoinEx users will be able to withdraw their funds directly from the exchange for the next 90 days.


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