{"id":379581,"date":"2023-03-10T14:24:14","date_gmt":"2023-03-10T14:24:14","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=379581"},"modified":"2023-03-10T14:24:14","modified_gmt":"2023-03-10T14:24:14","slug":"kucoin-faces-a-lawsuit-for-offering-crypto-trading-services-in-new-york-without-registering","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/kucoin-faces-a-lawsuit-for-offering-crypto-trading-services-in-new-york-without-registering","title":{"rendered":"KuCoin faces a lawsuit for offering crypto trading services in New York without registering"},"content":{"rendered":"
KuCoin, a well-known cryptocurrency exchange based in Seychelles, recently came under the regulatory radar in the state of New York after the state’s Attorney General, Letitia James, discovered that she can buy and sell cryptocurrencies on KuCoin’s platform. This is a problem because the platform is not registered in the state, and it doesn’t have its so-called BitLicense, which allows exchanges to offer their services within its borders.<\/p>\n
The new move represents another step by the regulators to crack down on digital currency exchanges that operate without registering with the US authorities. In this particular example, the New York Attorney General herself filed a lawsuit against the exchange, which was then announced on the NY AG James’ Twitter account.<\/p>\n
\nI'm suing cryptocurrency platform @kucoincom<\/a> for illegally operating in New York without registering with the state.<\/p>\n
This is our eighth action to rein in shadowy cryptocurrency platforms that disregard our laws and put New Yorkers at risk.<\/p>\n
— NY AG James (@NewYorkStateAG) March 9, 2023<\/a><\/p><\/blockquote>\n