Kucoin $ 1.1.23B, the cryptocurrency exchange, has acknowledged the operation of an unauthorized gold transfer business in the United States, and has agreed to settlement of $ 300 million with authorities.
The contract demands that the founder Michael Gun and Eric Tan resign from their roles.
The U.S. Department of Justice announced on January 27 that Peken Global Limited, a Kucoin, has been convicted in the Manhattan Court.
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As part of the reconciliation, the founder cancer and tongue will forfeit $ 2.7 million and abandon the involvement of Kukkoin’s business. Kucoin has forfeited $ 184.5 million and pays a fine of $ 122.29 million. In addition, the company has stopped business in the United States for two years.
Michael Gun described the transaction as a “favorable result,” and confirmed that BC Won, the highest legal officer of Kukoin, will take over the new CEO.
The cancer also pointed out that the accusation of him and tongue was rejected after satisfying the specific conditions for the settlement. He added:
I am grateful for the DOJ constructive approach to reach this resolution.
In a blog post on January 28, Kucoin reassured users that reconciliation would not affect business in other regions. The company said that it had improved compliance practice and platform security and advanced in accordance with regulation requirements.
Recently, the Securities and Exchange Commission (SEC) has finished $ 45 million to Robinhood, a cryptographic trading platform. what happened? Please read all stories.
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