NY AG Moves To Halt Crypto Firm After New Investor Claims

Law360 (May 7, 2021, 4:59 PM EDT) -- New York's attorney general on Thursday asked a judge to halt the operations of unregistered cryptocurrency trading platform Coinseed, claiming the company has frozen withdrawals, converted investor funds to "volatile" meme currency Dogecoin without their consent and drained its bank accounts since being sued in February.

State Attorney General Letitia James told New York Supreme Court Justice Andrew Borrok that her office has received more than 130 investor complaints of illegal conduct by Coinseed Inc. in the months since she and the U.S. Securities and Exchange Commission filed parallel suits against the company and two of its top executives.

The attorney general's...

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