Kucoin agrees to pay $ 297,000,000 to the US government to operate unlicensed money transfer work
KUCOIN exchange will pay $ 297 million to the United States government caused by compliance violations.
Peken Global Limited, the company that is based in Seychells, which runs Kucoin, has pledged guilty to operate an unlicensed company to capture money, according to what is mentioned press release From the US Prosecutor’s Office for the southern region of New York.
American lawyer Daniel R says. Sasson The exchange has failed to maintain a suitable for money laundering (AML) and fail to report suspicious transactions.
As a result, Kucoin was used to facilitate billions of dollars of suspicious transactions and transfer potential criminal revenues, including Darknet market revenues, harmful programs, ransom programs, and fraud plans. The acknowledgment of guilty today and penalties shows the cost of refusing to follow these laws and allowing continuing activity other than Legal.
Cocoin has agreed to a criminal loss of $ 184.5 million and pay a fine of $ 112.9 million, and the company will leave the United States market for at least two years.
Each of the founders of Exchange, Chun Gan and Ke Tang agreed to lose about $ 2.7 million of money. Any founder will have no role in the management or operations of Kucoin to move forward.
Kucoin is the 17 largest encryption exchange in the world in terms of monthly visits, according to data from Coingecko.
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