KuCoin Faces Legal Challenges Over Alleged Regulatory Violations

The cryptocurrency exchange is accused of violating anti-money laundering laws and operating without proper registration.

The DOJ and CFTC have filed lawsuits against KuCoin for alleged violations of anti-money laundering laws and operating an unregistered futures and swaps operation.
KuCoin's founders, Chun Gan and Ke Tang, are charged with conspiracy, and the company is accused of facilitating the laundering of over $9 billion in criminal proceeds.
The lawsuits invoke the Bank Secrecy Act, highlighting a growing trend of regulatory scrutiny over crypto exchanges.
In response, KuCoin asserts that user assets are secure and emphasizes its commitment to legal compliance.
The legal actions against KuCoin are part of a broader crackdown on the cryptocurrency industry by U.S. regulators.