US Government Indicts KuCoin on Criminal Charges: Crypto Exchange and Founders Face Legal Storm

The US government has indicted cryptocurrency exchange KuCoin, and its two founders, Chun Gan and Ke Tang, on criminal charges. A top U.S. prosecutor has announced criminal charges against a once ascending company in the cryptocurrency world and two of its founders in a bid to send a strong message about compliance and regulation within the crypto space.

The Attorney’s Office in the Southern District of New York summoned popular crypto exchange KuCoin and its founders on criminal charges. The indictment against KuCoin alleges violations related to anti-money laundering (AML) regulations and operating an unlicensed money transmitting business.

The United States Government has leveled criminal charges against cryptocurrency exchange KuCoin and its founders, Chun Gan and Ke Tang. According to a press release from the United States Department of Justice, the charges stem from KuCoin's alleged failure to maintain an adequate AML program and comply with know-your-customer (KYC) requirements.

This indictment marks a significant escalation in the US government's scrutiny of cryptocurrency exchanges and underscores the importance of regulatory compliance in the digital asset industry. The case is ongoing, and further updates will be provided as they become available.