Crypto trading platform Kucoin has pleaded guilty to unlicensed money transmitter offenses filed by the United States Department of Justice (DOJ). This plea marks the biggest shift in the lawsuit which also implicates its co-founders Chun Gan and Ke Tang.
The Kucoin Plea: Authoritie Win Again
According to update from Samuel Rubenfeld, a Senior Reporter with MLExclusive, the exchange entered the guilty please at the US District Court for the Southern District of New York. In addition to the guilty please, its co-founders entered into deferred-prosecution agreements with the Justice Department.
KuCoin pleaded guilty to operating an unlicensed money transmitting business. Two of its co-founders entered into deferred-prosecution agreements with the Justice Department.
— Samuel Rubenfeld formed a union 🔥 (@srubenfeld) January 27, 2025
The DOJ first filed the charges against Kucoin in March, 2024, accusing it of facilitating up to $4 billion in criminal-linked funds. This guilty please also mark one of the high profile concession most crypto entities are making to resolve lawsuits with American authorities.
As reported earlier by Coingape, two Robinhood paid $45 million to settle Federal securities violations with the Securities and Exchange Commission (SEC)
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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