KuCoin CEO Johnny Lyu said the U.S. government’s recent accusations against the platform are not unique to KuCoin, but are typical growth and regulatory issues encountered by emerging industries. It is not far-fetched to see regulatory gaps in the early stages of an industry such as cryptocurrency, and as the industry matures, the cryptocurrency industry will move towards compliance and standardization.
Lyu revealed that last Friday, KuCoin became the first global exchange to register with India’s Financial Intelligence Unit. “This reflects our respect for local regulations and our proactive approach to compliance.” (Coin Edition)
Previously, information disclosed on the website of the U.S. Department of Justice showed that KuCoin and its two founders CHUN GAN (also known as "Michael") and KE TANG (also known as "Eric") were charged with violating the Bank Secrecy Act and unauthorized fund transmission. . It is reported that the U.S. Attorney for the Southern District and the Department of Homeland Security Investigations announced the unsealing of the indictment, accusing KuCoin of violating the Bank Secrecy Act and intentionally violating anti-money laundering laws. Those involved are still at large.
KuCoin posted on the KuCoin respects the laws and regulations of various countries and strictly abides by compliance standards.