WRITTEN BY: CHIOMA MADONNA NDUKWU
The US government has filed criminal charges against KuCoin, a prominent cryptocurrency exchange, and its two founders, Chun Gan and Ke Tang.
The charges include violating the Bank Secrecy Act and money transmission laws, alleging involvement in a “multibillion-dollar criminal conspiracy.” The indictment accuses KuCoin of evading US anti-money laundering regulations and deliberately concealing the number of American users on its platform to fuel its global growth.
Homeland Security Investigations and the US Attorney for the Southern District of New York announced the indictment, emphasizing KuCoin’s exploitation of its significant US user base to become one of the world’s largest exchanges.
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