KuCoin and Founders Charged for Violating U.S. Financial Laws

These charges highlight increasing global regulatory scrutiny on exchanges violating U.S. anti-money laundering laws.

KuCoin faces allegations from U.S. authorities for deliberately ignoring AML regulations to expand its operations.

KuCoin Under Fire for AML Regulation Violations

The charges point to a major compliance breach, emphasizing the importance of following the Bank Secrecy Act for entities serving U.S. residents. This act mandates that financial institutions help prevent money laundering, a regulation KuCoin is accused of violating.

In addition to the AML concerns, KuCoin is charged with operating without the necessary license for a money-transmitting business. The licensing ensures businesses transferring money or value are regulated to protect the financial system from illegal use.

As of now, Chun Gan and Ke Tang remain at large, complicating the legal proceedings and casting a shadow over KuCoin’s future operations.

More About KuCoin

This situation challenges KuCoin and serves as a warning to other crypto exchanges and fintech companies. As the industry continues to evolve, the importance of regulatory compliance has never been more critical. The actions against KuCoin stress the importance of crypto businesses diligently following legal and anti-money laundering regulations.

Both the cryptocurrency industry and regulatory bodies will undoubtedly closely watch the unfolding case against KuCoin and its founders, as it may set important precedents for handling similar cases in the future.


The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.