Cryptocurrency exchange CoinEx has been sued on Wednesday by New York Attorney General, Letitia James, for failing to register as a securities and commodities broker-dealer with the state.
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The New York regulator said in a press release that the exchange violated the state's Martin Act, which prohibits false promises, related to the offer, sale, or purchase of securities within New York. With the enforcement action, the Attorney General's Office seeks to permanently stop CoinEx from operating in the state.
"The days of crypto companies like CoinEx acting like the rules do not apply to them are over," said James.
CoinEx said in a tweet it has "always attached great importance to regulatory compliance," without denying or admitting violations raised by the Attorney General's Office. The exchange also decided not to comment on any plans to appeal the lawsuit.
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