Breaking News! KuCoin Exchange and its Founders Face Lawsuit from the U.S. Department of Justice for Violating Banking Secrecy Act and Anti-Money Laundering Regulations

Cryptocurrency exchange KuCoin was officially indicted by the South District of New York’s Office of the United States Attorney tonight for violating anti-money laundering regulations and engaging in unauthorized currency transmission business. This comes after Binance was fined $4.3 billion, restoring confidence in the cryptocurrency market. In related news, KuCoin recently laid off 300 employees and withdrew from the US and Canadian markets, impacting its revenue. The indictment includes KuCoin and its founders, Chun Gan and Ke Tang. Damian Williams, the US Attorney, stated that they violated anti-money laundering regulations and engaged in unauthorized currency transmission business. KuCoin responded to the indictment at 23:40.