(2022)
NYAG v. KuCoin
Year
2022
Criminal or Civil
Civil
Year Resolved
N/A
Jurisdiction (Court/State)
New York State Court
Filed By
New York State Office of the Attorney General (Letitia James)
Penalty/Fine (USD)
No fine announced yet; lawsuit seeks injunctive relief and operational prohibition in NY
Lawsuit Overview
The New York Attorney General sued KuCoin for operating as an unregistered securities and commodities broker-dealer, falsely claiming to be an exchange, and offering unregistered products such as KuCoin Earn to New York residents. The lawsuit also notably asserts that ETH is a security, making it one of the first regulatory claims of its kind.
Category
Unregistered Securities Offering / Platform Misrepresentation / Regulatory Evasion
Notable Individuals Involved
Letitia James (Attorney General, NY)
John Ruth (Assistant Attorney General)
Shamiso Maswoswe (Investor Protection Bureau Chief)
Investor Loss Estimate
Not publicly quantified; lawsuit focuses on unlawful operation, not specific investor loss
Final Outcome
Ongoing (as of last update in 2023)
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