KuCoin exits US market, pays $300M fine for unlicensed operations

KuCoin pleaded guilty to operating an unlicensed money-transmitting business in a settlement with the U.S. Department of Justice on Jan. 27, agreeing to exit the U.S. market for two years and pay penalties nearing $300 million. The plea addresses allegations the exchange failed to register with the Financial Crimes Enforcement Network, maintain anti-money-laundering safeguards, and report suspicious activities, per the U.S. Attorney’s Office for the Southern District of New York.