U.S. Charges KuCoin in Major Anti-Money Laundering Case

Federal prosecutors allege the crypto exchange laundered over $9 billion, highlighting a significant breach of U.S. laws.

U.S. federal prosecutors charged crypto exchange KuCoin and its founders with violating anti-money laundering laws, alleging over $9 billion was laundered.
The Department of Justice and the Commodity Futures Trading Commission filed criminal and civil charges against KuCoin, highlighting its failure to adhere to U.S. regulations.
KuCoin and its founders are accused of operating without proper anti-money laundering programs and without registering as required by U.S. law.
Despite the charges, KuCoin insists it is operating normally and claims user assets are secure.
Founders Chun Gan and Ke Tang, both citizens of China, are charged but remain at large.