Urgent: The US Department of Justice filed a complaint against Kucoin exchange and its founders!
The United States Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) have sued the cryptocurrency exchange KuCoin (KuCoin) and two of its founders for violating the Bank Secrecy Act and making unauthorized money transfers.
The United States Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) have sued the cryptocurrency exchange KuCoin (KuCoin) and two of its founders for violating the Bank Secrecy Act and making unauthorized money transfers.
In its announcement, the US Department of Justice alleged that KoCoin and its founders, Chun Gan and Ke Tang, violated US anti-money laundering laws by turning KoCoin into one of the largest cryptocurrency exchanges in the world. Have.
At this point, Damian Williams, Attorney General for the Southern District of New York, and Darren McCormack, Special Agent in Charge of New York's Office of Homeland Security Investigations (HSI), said that indictments have been filed against Kokoin and its founders.
According to the indictment, cryptocurrency exchange KoCoin and its founders are charged with conspiracy to operate an unlicensed money transmission business and conspiracy to violate bank secrets.
Damian Williams, the U.S. Attorney for the Southern District of New York, had this to say about the Coquin case:
As alleged in today's indictment, Kocoin and its founders deliberately tried to hide the fact that many US users were transacting on the exchange's platform.
In fact, Kocoin is said to have leveraged its large customer base in the US to become one of the largest cryptocurrency spot and derivatives exchanges in the world, with billions of dollars in daily transactions and trillions of dollars in annual trading volume.
But taking advantage of unique opportunities in the United States, financial institutions like KoCoin must also comply with U.S. laws to help detect and eliminate crime and fraud schemes. However, Kokoin has deliberately chosen not to do this.
The defendants allegedly failed to implement even basic anti-money laundering policies, allowing Bitcoin to operate behind the scenes of financial markets and be used as a haven for illegal money laundering.
Our indictment should send a clear message to other cryptocurrency exchanges: If you intend to serve US customers, you must comply with US laws.
Jerard Bartez
Comments
michel
For a long time, I used Kocoin to buy the cryptocurrencies I needed. Everything was fine until last February, when this exchange started to lock the assets of some users without prior notice. Although I authenticated my account, I couldn't trust it. And I decided to withdraw my assets.
