KuCoin to Pay $22 Million, Exit NY Market to Resolve Lawsuit (1)

KuCoin, one of the largest and most popular cryptocurrency exchanges, agreed to pay $22 million in fines and refunds and stop trading in New York to resolve a lawsuit by the state.

Under the settlement, the latest in an aggressive push by New York to help shape the crypto landscape, KuCoin will refund a total of $16.7 million to 177,800 New York investors, on top of paying a $5.3 million fine to the state, New York Attorney General Letitia James said in a statement on Tuesday.

The payments will resolve claims that KuCoin failed to register as a securities ...