Law360 (February 17, 2021, 8:02 PM EST) — The attorney general of New York and the U.S. Securities and Exchange Commission filed complaints Wednesday against a cryptocurrency trading platform that they allege sold unregistered securities, among other violations.

The complaint filed by Attorney General Letitia James in the Supreme Court of the State of New York charges Coinseed Inc. and two of its top executives with trading commodities without being registered broker-dealers in New York, and for defrauding investors out of roughly $1 million.

The company also did not disclose some fees it levied for trading virtual currencies and duped investors into purchasing its now “worthless” cryptocurrency by asserting…

Source