The crypto exchange KuCoin will pay a $297 million penalty to the US government stemming from compliance violations.

KuCoin, one of the world's largest cryptocurrency exchanges, pleaded guilty on Monday to operating an unlicensed money transmitting business, and agreed to more than $297 million in fines and forfeiture,

As part of the settlement, KuCoin has agreed to exit from the U.S. market for the next two years. The company said its U.S. users can still withdraw their funds but are banned fro

KuCoin, a prominent cryptocurrency exchange with over $38 million global users, has agreed to pay a hefty fine.

KuCoin was used to launder billions in proceeds from darknet markets, malware, ransomware and fraud schemes, U.S. Attorney Danielle R. Sassoon said in a statement.

Crypto exchange KuCoin has pleaded guilty to criminal charges and agreed to a fine of almost $300 million.

KuCoin has agreed to pay $297 million in penalties, exit the U.S. market for two years, and replace its founders after pleading guilty to

The cryptocurrency exchange KuCoin pleaded guilty to operating an unlicensed money transmitting business and agreed to almost $300 million in fines and forfeitures, resolving a criminal case after settling similar civil claims in New York more than a year ago.

One of the world’s biggest cryptocurrency exchanges, KuCoin, has pleaded guilty to violating US regulations by operating an unlicensed money transfer business.

KuCoin, one of the largest cryptocurrency exchanges globally, pleaded guilty to operating an unlicensed money transmitting business and agreed to pay over $297 million in fines and forfeiture, the U.S.