Summary
TLDR: The US government has accused crypto exchange KuCoin and its founders of violating anti-money laundering laws by concealing US customers and transmitting billions of dollars of suspicious funds. KuCoin settled with the New York Attorney General last year and is now facing charges from the DOJ, marking the first time a crypto exchange has been targeted since Binance’s settlement. Former CEO of Binance is set to be sentenced next month for similar AML violations.
Key Points
1. The US government has accused crypto exchange KuCoin and two founders of violating anti-money laundering laws.
2. KuCoin founders Chun Gan and Ke Tang were each charged with one count of conspiracy to violate the US Bank Secrecy Act and one count of conspiracy to operate an unlicensed money transmitting business.
3. Neither have been arrested, according to the US Department of Justice.