KuCoin to Pay $22M Settlement, Ban New York Users Over Regulatory Violations
- KuCoin agrees to pay $22 million settlement to New York state
- KuCoin will ban all New York residents from its platform within 120 days
- New York residents' accounts will be closed and access to withdrawals restricted
- KuCoin ends policy allowing unverified accounts and enforces mandatory KYC
- Settlement comes after KuCoin did over $1B in daily volume with 2M weekly website visits