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Coinseed App

New York state brought a lawsuit Wednesday to shut down Coinseed, a mobile app that allows users to invest the change from everyday purchases into virtual currency.

MANHATTAN — New York state brought a lawsuit Wednesday to shut down Coinseed, a mobile app that allows users to invest the change from everyday purchases into virtual currency. Taking aim at the app’s two officers who are not registered as brokers with the state, the state says Delgerdalai Davaasambu and Sukhbat Lkhagv Adorj also misrepresented the fees they charge customers for trades and lied about their experience on Wall Street.

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