KuCoin Charged With 'Multibillion-Dollar Criminal Conspiracy' by the U.S. Department of Justice

By: Isha Das

The United States Department of Justice has charged cryptocurrency exchange KuCoin and its founders in relation to a multi-billion dollar criminal conspiracy. This comes after allegations of violations of the Bank Secrecy Act.

Not only is KuCoin facing charges for its operation within the U.S jurisdiction, it is additionally accused of misrepresenting its operational status to its investors. The Justice Department asserts that the exchange neglected to maintain a legal anti-money laundering program, amidst failure to register with U.S government entities. Accusations stand for two of KuCoin's founding members as well.