New York State Attorney General Letitia James sued CoinEX for failing to register with the state.
The crypto exchange also failed to comply with a subpoena filed last month.
New York has aggressively filed lawsuits against cryptocurrency companies and individuals in recent months.
CoinEX sued for failed registration
New York State Attorney General Letitia James has filed a lawsuit against cryptocurrency exchange CoinX for failing to register its services with the state.
In a petition filed in the New York State Supreme Court on Wednesday, the New York Attorney General said:
“CoinEx offered, sold, purchased and executed transactions in cryptocurrencies, commodities and securities, even though it was not registered as a commodity broker-dealer and securities broker or dealer in New York.”
According to the petition, CoinEX failed to establish itself as an exchange and register its services with the country. The New York AG office added that the cryptocurrency exchange also failed to comply with the subpoena issued weeks earlier.
The attorney general added that some of the cryptocurrencies offered by the exchange are considered commodities and securities under the Martin Act, New York’s securities law. others.
According to the New York AG office, the four tokens CoinEX offers as securities and commodities are: AMP, LBRY token (“LBC”), LUNA and Rally (“$RLY”).
The petition wants to stop cryptocurrency exchanges from conducting unauthorized activities in New York. Additionally, the AG wants New York IP addresses blocked from using the exchange.
Finally, New York AG wants “complete accounting for New York accounts and all fees received from New York customers.”
New York AG office has history with crypto players
this latest cryptocurrency news Given New York’s history with cryptocurrency companies and individuals, this is not surprising.
The state is an active player in the cryptocurrency space and has filed lawsuits against several crypto companies and individuals in the past.
2020, New York Attorney General’s Office filed a lawsuit Both companies claimed to have lost $1 billion in customer funds against Bitfinex and Tether.
The state has also filed a lawsuit against former CEO of crypto lender Celsius, Alex Mashinski, in recent months.