KuCoin and its founders face U.S. charges for illicit operations and evading anti-money laws
Damian Williams, the top prosecutor of the U.S. Southern District of New York, and Darren McCormack, the temporary head of HSI New York, have revealed charges against KuCoin and its founders, Chun Gan and Ke Tang. The accusations pertain to illicit money transfer and violation of the Bank Secrecy Act, namely the absence of a comprehensive program to deter money laundering and terrorist funding, inadequate verification of client identities, and failure to disclose suspicious actions. KuCoin’s endeavor to expand its U.S. customer base with the aim of becoming a leading cryptocurrency exchange has resulted in more than $9 billion worth