Crypto exchange KuCoin has admitted guilt to charges of operating an unlicensed money-transmitting business and two of its co-founders have reached deferred prosecution agreements with the US Department of Justice (DOJ). The legal action follows an indictment in March 2024 accusing KuCoin of conspiring to operate an unregistered money-transmitting business and failing to comply with anti-money laundering regulations. The exchange also faced charges for substantive violations of the Bank Secrecy Act. The Commodity Futures Trading Commission (CFTC) has also filed a complaint against KuCoin for breaching the Commodity Exchange Act. The legal proceedings highlight the regulatory challenges faced by crypto exchanges in the US.



Other News from Today