KuCoin operator barred from U.S. after CFTC order
A federal court permanently barred KuCoin operator Peken Global Limited from serving U.S. users without registering as a foreign board of trade.Summary
KuCoin operator Peken Global Limited has been permanently barred by a federal court order from allowing U.S. users on its platform unless it registers as a foreign board of trade. This consent order from the Commodity Futures Trading Commission (CFTC) also imposes a $500,000 civil penalty. This action finalizes KuCoin's U.S. exit, converting a previous temporary withdrawal into an indefinite ban. The CFTC case follows KuCoin's January 2025 guilty plea in a separate criminal case, where it admitted to operating an unlicensed money transmitting business, resulting in nearly $297 million in penalties and forfeitures. KuCoin previously had about 1.5 million U.S. users, generating at least $184.5 million in fees, and only introduced KYC requirements in August 2023, which were not applied retroactively.
(Source：CoinDesk)