US accuses KuCoin of violating anti-money laundering laws
In the US, federal prosecutors have charged crypto exchange KuCoin and its two founders with violating anti-money laundering laws.
Prosecutors said the Exchange operated in the United States, lied to at least one of its investors about operating in the United States, and failed to both register with U.S. government agencies and maintain an anti-money laundering program.
The U.S. Department of Justice (DoJ) alleged in an indictment that KuCoin and its founders Chun Gan and Ke Tang operated KuCoin as a money transfer business with more than 30 million customers but did not implement a know-your-customer (KYC) or AML program until 2023, and even then He said the KYC program is not applicable to existing customers.
Neither Gan nor Tang was arrested, the Justice Department said in a press release.
The DoJ indictment stated that KuCoin did not register with the U.S. Financial Crimes Enforcement Network as a money services business.
In the US, federal prosecutors have charged crypto exchange KuCoin and its two founders with violating anti-money laundering laws.
Prosecutors said the Exchange operated in the United States, lied to at least one of its investors about operating in the United States, and failed to both register with U.S. government agencies and maintain an anti-money laundering program.
The U.S. Department of Justice (DoJ) alleged in an indictment that KuCoin and its founders Chun Gan and Ke Tang operated KuCoin as a money transfer business with more than 30 million customers but did not implement a know-your-customer (KYC) or AML program until 2023, and even then He said the KYC program is not applicable to existing customers.
Neither Gan nor Tang was arrested, the Justice Department said in a press release.
The DoJ indictment stated that KuCoin did not register with the U.S. Financial Crimes Enforcement Network as a money services business.