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U.S. charges KuCoin crypto exchange with violating anti-money laundering laws

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Prosecutors said KuCoin sought business from U.S. customers without registering with the Treasury Department and putting in place procedures to verify clients’ identities as required by U.S. law

Federal prosecutors in Manhattan on Tuesday charged KuCoin, one of the world’s largest cryptocurrency exchanges, with violating U.S. anti-money laundering laws by failing to vet customers, allowing billions of dollars in illicit funds to be transferred since its founding in 2017.

KuCoin posted on social media site X that customer assets are safe and its lawyers are looking into the allegations. Prosecutors also charged the exchange’s founders, Chinese nationals Chun Gan, 34, and Ke Tang, 39, with conspiracy. They remain at large, according to prosecutors.

 

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