KuCoin Exits New York With $22 million Settlement
Adekunle Joshua
KuCoin has reached a settlement of $22 million in a lawsuit with the state of New York
According to the agreement, KuCoin will cease trading activities in New York and refund $16.7 million to approximately 177,800 New York investor
Additionally, the exchange will pay a $5.3 million fine
This settlement stems from allegations that KuCoin falsely portrayed itself as a cryptocurrency exchange without registering as a securities and commodities broker-dealer