Crypto exchange CoinEx will stop serving users in the United States, according to an email received by users and obtained by Crypto Slate on Feb. 24.

New York Attorney General Letitia James has sued cryptocurrency exchange Coinex “for failing to register as a securities and commodities broker-dealer and for falsely representing itself as a crypto exchange.” The NY attorney general also stressed that Coinex is not registered with the U.S. Securities and Exchange Commission (SEC) even though the platform lets users trade crypto tokens that are allegedly securities.

New York Attorney General Letitia James has sued CoinEx for failing to register with the state, according to a press release from the office on Feb. 22.

The discussions are expected to be interesting to watch out given the regulatory scrutiny increasing in recent weeks.

Cryptocurrency exchange CoinEx has been sued by the New York Attorney General, Letitia James, alleging the firm falsely represented itself as an exchange due to failing to register as a securities and commodities broker-dealer in the state. A 38-page petition filed by James in the New York Supreme Court on Feb. 22 alleged CoinEx “engaged in repeated and persistent fraudulent practices” and violated the state’s Martin Act — considered one of the most strict anti-fraud and securities regulation laws in the United States. She also asserted CoinEx listed various tokens that qualified as “both commodities and securities” naming AMP, LBC, RLY and LUNA. (Cointelegraph)

CoinEx has been offering trading services to New York residents without obtaining the required license from the state's Department of Financial Services (DFS)

New York Attorney General Letitia James is suing cryptocurrency exchange CoinEx for allegedly failing to register with the state.  

Before RLWC 2021 started, CoinEx announced that it would become the Exclusive Cryptocurrency Trading Platform Partner of the global event to provide sponsorship, cheer for all athletes, and witness their glory on the rugby field.