
Coinseed ordered to shut down and pay $3M in relief in win for NYAG
A New York court has ordered digital currency firm Coinseed to shut down, marking a win for the New York Attorney General’s Office.
A New York court has ordered digital currency firm Coinseed to shut down, marking a win for the New York Attorney General’s Office.
Coinseed founder Delgerdalai Davaasambuu announced the shutdown this week, blaming all his firm’s woes on New York Attorney General Letitia James.
The New York Attorney General’s Office is accusing digital currency trading startup Coinseed of allegedly selling worthless tokens to investors.
The firm, which operates a mobile application allowing users to trade digital currencies, sold its CSD tokens to investors, according to federal authorities.
The Delaware, U.S.-based company indicates that users of its app will be able to make purchases at a variety of online merchants and pay with a debit or credit card.