Crypto exchange KuCoin agreed to pay a total of $22 million and terminate access for users in New York state, court documents filed on Tuesday from the Supreme Court of the State of New York County showed.

Kucoin will refund $16.77 million to New York customers and pay $5.3 million to the Attorney General of the State of New York to settle charges it violated securities laws by offering tokens – including ether – that meet the definition of a security without registering with the attorney general’s office.

Attorney General of the State of New York Letitia James filed the suit in March.

"I want to update all of you about our latest compliance action. @kucoincom has reached a settlement with the New York Attorney General (NYAG), solidifying our commitment to compliant operations," KuCon CEO Johnny Lyu said in a tweet.

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