KuCoin Settles Lawsuit with New York, Exits State in $22M Deal

KuCoin, a major player in the digital asset world, has wrapped up a legal tussle with New York state authorities, agreeing to a hefty $22 million settlement.

KuCoin New York Lawsuit and Settlement

In the KuCoin New York case, the digital asset exchange faced a lawsuit from New York Attorney General Letitia James. KuCoin was accused of operating a digital asset trading platform without proper registration as a broker-dealer in commodities and securities. This meant New York residents could trade digital assets on their platform without the necessary regulatory clearance.

The platform previously boasted a privacy-centric approach, allowing users to transact without KYC or AML…

Read more on bitcoinnews

24.4K Reads