KuCoin Banned From New York, Agrees to $22 Million Settlement Over Crypto Offerings
• KuCoin agrees to $22M settlement with NY Attorney General, banned from operating in NY • Required to pay $16.7M in refunds to NY users, $5.3M fine • Admits offering cryptos that are securities or commodities under NY law • NYAG previously claimed Ethereum is a security, but settlement doesn't specify • KuCoin had over 177K NY users; NY has strict crypto policies compared to other states