KuCoin Exchange and Founders Face Criminal Charges for Allegedly Enabling $Billions in Illicit Crypto Transactions

KuCoin cryptocurrency exchange and its founders criminally charged with violating Bank Secrecy Act and operating unlicensed money transmitting business
KuCoin grew to be one of world's largest crypto exchanges but allegedly failed to implement anti-money laundering policies
Over $5 billion in suspicious funds received and $4 billion sent by KuCoin, used by criminals due to anonymity
Founders Gan and Tang concealed that KuCoin had large US customer base to avoid regulations
KuCoin, Gan, and Tang charged with multiple counts each, facing up to 5-10 years in prison per count