KuCoin Pleads Guilty to Federal Charges and Pays $300 Million | Airdrop Alert Pro

Kucoin Acknowledging that the federal allegations are guilty today, and acknowledge its unlicensed currency transmission business. The founders Chun Gan and Ke Tang will avoid being prison, but they must pay nearly $ 300 million in fines.

This legal struggle was held in southern New York (SDNY), and its new American lawyer vowed to stop suppressing the cryptocurrency industry. However, he claims that this probation occurs only after such a case has reached appropriate resolutions.

Criminal allegations against Koujing

Kucoin, one of them Leading cryptocurrency exchangeLast year faced several legal challenges. In 2024 in the fourth quarter, Ala Mida studied A $ 50 million lawsuit Oppose exchange. It also received The official warning of the Japanese government Used without licenses and no permits.

Today, in a more serious episode, Kuke pleaded guilty to the federal court’s criminal charges.

“We are glad to announce that KUCOIN has reached a settlement with the US authorities, which is an important step in our journey. This milestone has brought clarity to our future and strengthened our innovation, compliance, and for us. 38 million users bring a promise of value, “exchange” Publish On X (previously Twitter).

This legal struggle started a year ago The US government accuses the company There are “billions of dollars of criminal conspiracy”. Specifically, Kukin was accused of failing obey WFinancial complianceThe allegations include a large number of imprisonment time.

Thanks to their pleasure, Kuke’s founder Chun Gan and Ke Tang will not be affected by these charges. U.S. District Court Judge Andrew Carter sentenced the company to pay nearly $ 300 million in fines and confiscation.

However, although these executives are not prison, their company may still be in trouble. The exchanges will have to withdraw from the United States for two years.

“Peken Global Limited) operates Kucoin Cryptocurrency Exchange, which promises to operate an unlicensed currency transmission business. It will pay 297 million US dollars and withdraw the United States for 2 years; Chun Gan & Ke Tang will not play anything in Kucoin. effect,” Write Inner City Press.

Since the federal government’s first charges against Kuke, investors and customers have been working hard. The user withdrew more than $ 1.2 billion On the first day after the filing, from the platform. Then the reserves controlled by the user dropped by 20 % In less than a week.

Since then, exchange Already strive to maintain correlationEssence Recently, it introduced a new business solution called “Kucoin Pay” to enter the retail industry. In any case, its business continues to suffer in legal challenges.

Surprisingly, despite the continuous review, Kucoin’s local tokenKCS performed well in the entire bull market. In January, Congzhai maintained a speed of nearly 20 % after today’s news.

At the same time, the case actually conforms to the changes in the comprehensive pro -Port regulatory supervision under President Trump. Specifically, Kuke faced these allegations in southern New York (SDNY), which is a federal court involving financial crimes.

Sdny’s American lawyer Vowing to stop suppressing Regarding encrypted criminals, but only after the existing case is over. Overall, this is a positive step of exchange because it closed the chapter of the lawsuit of the Ministry of Justice.