Posted 3/26/2024, 3:11:00 PM
KuCoin Exchange Charged With AML Violations, Accused of $5B in Unsupervised Transactions
- U.S. prosecutors charge KuCoin exchange and founders with anti-money laundering violations
- Allegations include operating illegally in U.S., lying to investors about U.S. presence
- KuCoin accused of failing to register as money transmitter or maintain AML program
- Over $5B in suspicious funds allegedly sent through KuCoin lacking oversight
- KuCoin token drops 5% on news; charges come months after Binance settlement
