Crypto Exchange Kucoin to Shut in New York, Pay $22 Million to Settle Lawsuit

Team ICO Desk

The biggest bitcoin exchanges in the world have decided to blacklist New York

The platform's failure to register with the government before opening up trading and buying of bitcoins for users

Crypto businesses must realize that they have to follow the same regulations as traditional financial institutions," James stated

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Besides paying the state $5.3 million, KuCoin is returning $16.7 million in bitcoin to 177,800 investors in New York as part of its $22 million payout

Among cryptocurrency spot exchanges, KuCoin lags behind Binance, Coinbase, and Kraken

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