Law360 (June 4, 2021, 7:32 PM EDT) — A New York judge on Friday appointed a receiver for unregistered cryptocurrency trading platform Coinseed Inc., and indicated that he would order the company to halt operations following claims it has locked users’ accounts and tanked investor portfolios since being sued by state and federal regulators.
New York Supreme Court Justice Andrew Borrok appointed Michelle Gitlitz, the head of Crowell & Moring LLP’s blockchain and digital assets practice, as a receiver for the company following a remote hearing. He has not yet ruled on New York Attorney General Letitia James’ May 6 preliminary injunction bid, but suggested during the hearing that he would grant the…
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