New York Attorney General Letitia James has filed a lawsuit against cryptocurrency exchange CoinEx for allegedly engaging in fraudulent practices by failing to register as a securities and commodities broker-dealer in the state.
In a 38-page petition filed in the New York Supreme Court, James accused the exchange of listing tokens that qualify as “both commodities and securities” without registering with the Securities and Exchange Commission or the Commodity Futures Trading Commission.
The lawsuit also alleges that CoinEx failed to comply with a subpoena by the Attorney General’s Office.
The Attorney General is seeking a court order to stop CoinEx from operating in the state and prevent it from marketing itself as an exchange.
