New York Attorney General Sues KuCoin, Claims Ethereum Is a Security

The New York Attorney General’s office today filed a lawsuit against cryptocurrency exchange KuCoin for allegedly violating securities and commodities laws in the state.

In the complaint, Attorney General Letitia James makes the startling claim that not only are Terra (LUNA) and TerraUSD (UST) securities, as previously alleged by the United States Securities and Exchange Commission, but also Ethereum, the second-largest cryptocurrency by market capitalization.

This story is developing and will be updated.