{"id":24735,"date":"2026-03-31T07:58:19","date_gmt":"2026-03-31T07:58:19","guid":{"rendered":"https:\/\/bitunikey.com\/news\/kucoin-agrees-to-500000-cftc-penalty-over-unlicensed-operations\/"},"modified":"2026-03-31T07:58:30","modified_gmt":"2026-03-31T07:58:30","slug":"kucoin-agrees-to-500000-cftc-penalty-over-unlicensed-operations","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/kucoin-agrees-to-500000-cftc-penalty-over-unlicensed-operations\/","title":{"rendered":"KuCoin agrees to $500,000 CFTC penalty over unlicensed operations"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p>Cryptocurrency exchange KuCoin\u2019s parent company has agreed to pay a $500,000 civil penalty in a settlement that claimed it operated an unregistered offshore commodities exchange.<\/p>\n<div id=\"cn-block-summary-block_2cf971494ec7513ff8300ff99a0cde49\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>KuCoin\u2019s parent company agreed to pay a $500,000 civil penalty to settle CFTC charges tied to operating an unregistered offshore commodities exchange.<\/li>\n<li>The firm resolved the case without admitting or denying the allegations, while avoiding profit disgorgement after cooperating with investigators.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The Commodity Futures Trading Commission said in a Monday <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/9203-26\" target=\"_blank\" rel=\"nofollow\">announcement<\/a> that KuCoin\u2019s parent company, Peken Global Limited, has entered into a consent order, bringing all of the agency\u2019s claims to a close. As part of the settlement, the company has agreed to resolve the matter without admitting or denying the CFTC\u2019s claims.<\/p>\n<p>For its willingness to cooperate with the investigation, the regulator has not required the company to disgorge profits gained during the period between July 2019 and around June 2023.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The $500,000 penalty imposed by the court also takes into account the earlier $300 million fine paid in a separate case brought by the Department of Justice for operating an unlicensed money transmitter business.<\/p>\n<h2 class=\"wp-block-heading\">Kraken faces restrictions in the U.S.<\/h2>\n<p>Kraken was first sued by the CFTC in March 2024 for operating an unregistered platform and failing to maintain adequate regulatory oversight. Subsequently, in late March 2024, the CFTC issued a <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8884-24\" target=\"_blank\" rel=\"nofollow\">statement<\/a> outlining that the agency was seeking strong punishments and permanent injunctions against companies involved with the exchange\u2019s operations.<\/p>\n<p>The commission claimed that the exchange lacked sufficient know-your-customer procedures, failing to properly verify the identity of its users, while also acting as an unregistered futures commission merchant or foreign board of trade without the necessary legal clearances to serve U.S. customers.<\/p>\n<p>\u201cThe order permanently enjoins Peken Global from future violations,\u201d the CFTC said, effectively barring the exchange from serving Americans unless it acquires the necessary approvals.<\/p>\n<p>Recently, the exchange has also faced challenges in Dubai, where the Virtual Assets Regulatory Authority said KuCoin was serving locals \u201cwithout the necessary regulatory approvals\u201d while misrepresenting its licensing status.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange KuCoin\u2019s parent company has agreed to pay a $500,000 civil penalty in a settlement that claimed it operated an unregistered offshore commodities exchange. Summary KuCoin\u2019s parent company agreed&hellip;<\/p>\n","protected":false},"author":1,"featured_media":24736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/24735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=24735"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/24735\/revisions"}],"predecessor-version":[{"id":24737,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/24735\/revisions\/24737"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/24736"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=24735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=24735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=24735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}