👇🏻👮🤵Crypto Exchange KuCoin Violated Anti-Money Laundering Laws, U.S. Charges
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The exchange was charged under the Bank Secrecy Act.
Crypto exchange KuCoin and two of its founders were charged with violating anti-money laundering laws by U.S. federal prosecutors.
Homeland Security Investigations Special Agent Darren McCormack called KuCoin "an alleged multibillion-dollar criminal conspiracy."
KuCoin’s native token (KCS) dropped by 5% after the announcement.
U.S. federal prosecutors charged crypto exchange KuCoin and two of its founders with violating anti-money laundering laws on Tuesday, saying the exchange operated in the U.S., lied to at least one of its investors about operating in the U.S. and failed to both register with U.S. government entities and maintain an anti-money laundering program.