CoinEx to Refund $1.17M to New York Investors and Banned from Operating in the US

New York Attorney General Letitia James reached a settlement in the lawsuit against the encryption exchange CoinEx. The settlement agreement requires the encryption exchange CoinEx to provide a total refund of $1.17 million to 4,691 New York investors. Receive refunds in cryptocurrency. Additionally, CoinEx had to implement geo-blocking to prevent New York IP addresses from accessing its platform. CoinEx is also prohibited from creating any new accounts for U.S. customers, and existing U.S. customers can only withdraw their cryptocurrencies from the platform. Foresight News previously reported that in February this year, the New York Attorney General sued the exchange CoinEx for providing unregistered securities and commodity transactions in New York State. After that, CoinEx announced that it would stop providing services to US users and required customers to withdraw assets before April 24.