KuCoin to pay nearly $300 million in penalties after guilty plea

KuCoin's operator, PEKEN Global, admitted guilt for operating an unlicensed money-transmitting business and failing to enforce AML/KYC requirements, enabling the laundering of billions from darknet markets and cybercrime (malware, ransomware, fraud). The DOJ settlement includes $297M in penalties, a two-year U.S. market exit for KuCoin, removal of its founders from management, and forfeitures.