New York Attorney General sues KuCoin for violating securities laws, claiming "Ether is a security."

According to ChainCatcher, as reported by CoinDesk, New York Attorney General Letitia James has filed a lawsuit against the cryptocurrency exchange KuCoin, accusing it of offering unregistered securities and commodities. This lawsuit is part of a "crackdown on unregistered crypto platforms" initiated by New York state regulators. The lawsuit also alleges that Ether, Luna, and TerraUSD are all classified as securities.

Additionally, James believes that KuCoin is selling unregistered securities through its lending and staking product, KuCoin Earn. James is seeking a court order to stop KuCoin from operating in New York and to instruct KuCoin to implement geo-blocking based on IP addresses and GPS locations to prevent New York residents from accessing KuCoin's applications and services. (Source link)