New York Attorney General Sues to Shut Down Allegedly Illegal Cryptocurrency Trading Platform and Virtual Currency

摘要

New "York Attorney General Letitia James has taken legal action to shut down an allegedly illegally operating cryptocurrency trading platform that, she asserted, had defrauded thousands of investors across the nation out of more than $1 million.In a lawsuit filed against Coinseed, Inc. - the owner and operator of a virtual currency trading platform - and its two top executives - Delgerdalai Davaasambu (founder and chief executive officer) and Sukhbat Lkhagvadorj (chief financial officer) - Attorney General James sought to stop Coinseed and the two individual defendants from further operating as unregistered commodities broker-dealers through their mobile application, as well as to return investments of Coinseed's worthless cryptocurrency, the CSD token.In the lawsuit, Attorney General James alleged that Coinseed and the individual defendants were unlawfully trading cryptocurrencies, such as Bitcoin, without being a registered broker-dealer in New York, while simultaneously failing to disclose certain fees associated with the trading of virtual currencies on their investors' behalf.