Coinex Settles With NY Attorney General, Pays $1.7M in Penalties; Announces Exit from US Market

Coinex Settles With NY Attorney General, Pays $1.7M in Penalties; Announces Exit from US Market

According to a press release issued on June 15 by the Office of the New York State Attorney General, the cryptocurrency exchange Coinex has reached a settlement with Letitia James, the chief law enforcement officer. The attorney general stated that Coinex will pay $1.7 million in penalties and refunds and is barred from operating its platform in the state.
Crypto Exchange Coinex Settles Legal Battle With NY Attorney General
In late February 2023, Letitia James, the attorney general (AG) of New York, filed a lawsuit against Coinex, a cryptocurrency exchange. The allegations included the offering of unregistered securities and operating an unregistered exchange. As per the initial complaint, the AG’s Office discovered that unregistered securities were obtainable from Coinex in New York.
A little over three months later, Coinex has reached a settlement with the AG, agreeing to pay $1.7 million in penalties and refunds. Consequently, the exchange is now prohibited from operating in New Y

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