Founders

KuCoin Fined $300M:
KuCoin was charged with defying anti-laundering laws only a few years after settling a similar lawsuit in the state of New York. The settlement was announced on January 27, and includes the forfeiture of $184.5 million and a $112 million fine. The entity, operated by PEKEN Global Ltd. also agreed to exit the US market for two years. KuCoin and its founders were put on trial in March 2024 for conspiring to run an unlicensed money-transmitting business in breach of anti-money laundering laws, including the US Bank Secrecy Act, failing to implement adequate KYC and AML measures. The founders agreed to defer prosecution and forfeit $2.7 million. The United States Justice Department and the Commodity Futures Trading Commission accused the exchange of abetting the laundering of up to $9 billion. KuCoin issued a statement following the settlement, assuring users that its operations in other markets will not be impacted.

To succeed, you must experience failure first✌

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