NEW: The New York State Attorney General's office is suing crypto exchange KuCoin, alleging it offered unregistered securities and commodities under state law – including ether. nikhileshde cheyenneligon nelwang report
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.New York State Attorney General Letitia James filed suit against KuCoin on Thursday, alleging thhe Seychelles-based crypto exchange is violating securities laws by offering tokens – including ether – that meet the definition of a security without registering with the attorney general’s office.
The suit is the first time a regulator has claimed in court that ether is a security. Though Securities and Exchange Commission Chairman Gary Gensler has hinted that his agency might consider ether to be a security, the SEC’s sister regulatory agency – the Commodity Futures Trading Commission – has long maintained that both bitcoin and ether are commodity assets.
James’ suit argues that ether is considered a security under the Martin Act – a 102-year-old New York anti-fraud law that gives the Attorney General powers to investigate securities fraud and bring both civil and criminal actions against violators – because the value of ether is dependent on the efforts of others, including co-founder Vitalik Buterin.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facing lawsuit from Arizona attorney general, Cochise County supervisors hire outside attorneyThe county plans to hire Phoenix-based attorney Timothy La Sota, although questions remain about where the money to pay him will come from
Read more »
California’s Attorney General Is Suing Huntington Beach For Blocking New Housing🧵: California Attorney General Rob Bonta announced a new lawsuit on Thursday targeting the city of HuntingtonBeach for violating state housing law.
Read more »
Maryland bill enabling attorney general to prosecute police advancesA bill advanced Tuesday that will enable Maryland's Attorney General to prosecute the police while investigating deaths, or injuries that resulted in death.
Read more »
New York Giants Signing Daniel Jones To New, Huge ContractDaniel Jones is staying in New York with the Giants -- agreeing to re-sign with the team for a ton of cash.
Read more »
Arizona attorney general sues to stop county election switchOn Tuesday, Arizona's attorney general sued to stop a transfer of election duties in a rural county where the leaders have embraced voting conspiracy theories. abc15
Read more »