KuCoin to Pay $300 Million in Penalties Following Guilty Plea for Regulatory Violations in Cryptocurrency Operations
KuCoin, a major cryptocurrency exchange, has agreed to pay $297 million after admitting it operated without a required money-transmitting license in the U.S. The company failed to implement crucial anti-money laundering measures, which allowed cybercriminals to use the platform for laundering billions of dollars. U.S. authorities noted that KuCoin did not establish a “know your ...
