KuCoin pleads guilty, agrees to pay nearly $300 million in US crypto case
- KuCoin pleaded guilty to operating an unlicensed money transmitting business and agreed to pay over $297 million in fines and forfeiture, according to the U.S. Department of Justice.
- The plea includes a $112.9 million criminal fine, and KuCoin must exit the U.S. Market for at least two years.
- Founders Chun Gan and Ke Tang will forfeit $2.7 million and leave KuCoin's management as part of the agreement, as stated by the Justice Department.
- KuCoin failed to implement effective anti-money laundering and know-your-customer programs, allowing billions in suspicious transactions, according to U.S. Attorney Danielle R. Sassoon.
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Leaning Left1Leaning Right0Center6Last UpdatedBias Distribution86% Center
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C 86%
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