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<ul class="news-points"> 
 <li>KuCoin founders Chun Gan and Ke Tang were criminally charged by US authorities.</li> 
 <li>The exchange witnessed over $500 million worth of withdrawals.</li> 
 <li>Tang and Gan were accused of violating the Bank Secrecy Act in the US.</li> 
</ul> 
KuCoin, a leading digital asset trading platform, has witnessed a significant surge in withdrawals after the exchange’s founders, Chun Gan and Ke Tang, were criminally charged by authorities in the United States.&nbsp; 
As per an official<a href="https://www.justice.gov/usao-sdny/pr/prominent-global-cryptocurrency-exchange-kucoin-and-two-its-founders-criminally" target="_blank" rel="nofollow"> release</a>, the two founders were charged “for conspiring to operate an unlicensed money transmitting business and conspiring to violate the Bank Secrecy Act by willfully failing to maintain an adequate anti-money laundering (“AML”) program designed to prevent KuCoin from being used for money laundering and terrorist financing, failing to maintain reasonable procedures for verifying the identity of customers, and failing to file any suspicious activity reports.” 
Damian Williams, the United States Attorney for the Southern District of New York, along with Darren McCormack, the Acting Special Agent in Charge of the New York Field Office of Homeland Security Investigations, unsealed the indictment on March 26. Whi…
The post <a href="https://coinedition.com/kucoin-witnesses-significant-withdrawals-after-founders-indictment/">KuCoin Witnesses Significant Withdrawals After Founders’ Indictment</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

KuCoin Witnesses Significant Withdrawals After Founders’ Indictment

Coin Edition

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