Kucoin exchange is charged
Kucoin is a leading cryptocurrency exchange. It is based out in US and it has global presence. Now there is a news that this exchange has been charged by us federation for anti money laundering. This is not the first time when any exchange has been accused in United States as we have seen many exchange is going through the similar scenarios in US and looks like now kucoin is the next target by the government.
This exchange has been doing pretty well in the market since many years and recently the exchange has also got complied with fiu in India. In fact this is the first exchange that has got complaint with Indian Government and this news update has been shared last week itself would you surely a big news for the Indian users. Again there is a question that will fiu cancel the registration or they will wait for the further update or proceedings happening in US.
There is a process that has to be followed and just by acquisition we can't say that something wrong has happened but we need to wait for sometime till the time investigation is done and the final report is shared..
Federal prosecutors in Manhattan on Tuesday charged KuCoin, one of the world's largest cryptocurrency exchanges, with violating U.S. anti-money laundering laws by failing to vet customers, allowing billions of dollars in illicit funds to be transferred since its founding in 2017.
The exchange has published an updates sharing that the customer assets are safe and there is nothing to worry about and also their team is working with government to sort out the case and follow whatever legal proceedings are required. It is not a surprise that any leading cryptocurrency company is targeted by the government because this has been happening for quite some time but now let's see how this exchange handles this scenario and how they are turn out to be coming out of this problem.
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