CoinEx accepts New York ban, to pay $1.8 million to resolve attorney general lawsuit

CoinEx agreed to pay $1.8 million and be banned from operating in New York to settle state Attorney General Letitia James’ lawsuit accusing the cryptocurrency exchange of operating illegally because it failed to register with the state.

A proposed settlement was filed on Wednesday in a New York state court in Manhattan, and requires a judge’s approval.

It calls for CoinEx to be banned from offering, selling or buying securities and commodities in New York, or making its platform available in the state.