New York has announced that it is suing the CoinEx crypto exchange for non-compliance and involvement in fraudulent activities.
The New York Attorney General stated that he is seeking a court order to ban the CoinEx crypto exchange from the state. New York wants all websites of CoinEx crypto exchange originating from New York to be blocked
New York Fights to Remove CoinEx Crypto Exchange from State!
New York Attorney General Letitia James stated that the CoinEx crypto exchange will be subject to a lawsuit for failing to register as a securities and commodities broker-dealer for the state of New York. Additionally, James added that the CoinEx crypto exchange misrepresents the state.
James made statements for the 38-page petition published in the New York Supreme Court on February 22. The article, published by the New York Supreme Court for CoinEx, stated that “CoineEx violated the state’s Martin Law by engaging in continued fraudulent activities.” At the same time, the Martin Act is cited as the toughest anti-fraud regulatory law for the United States.
In the article published by the New York Supreme Court, it is stated that the CoinEx crypto exchange contradicted the subpoena sent by the Attorney General for “virtual asset trading activities”.
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