<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/kucoin-withdraws-license-application-in-hong-kong/" data-wpel-link="internal">KuCoin Withdraws License Application in Hong Kong</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/2020den-beri-ilk-kez-yasandi-kripto-paralarda-tarih-tekerrur-edecek-mi" data-wpel-link="internal">Crypto currency</a> world experienced a significant development today related to KuCoin, which is under investigation by the US Department of Justice. According to reports, the Hong Kong representative of KuCoin, <strong>HKVAEX</strong>, has withdrawn its application for a crypto asset trading platform license to the Hong Kong Securities Regulatory Commission on March 28th.</p> 
<h2 style="text-align: justify" id="why-did-kucoin-withdraw-its-application">Why Did KuCoin Withdraw Its Application?</h2> 
<p style="text-align: justify"><strong>KuCoin</strong> may have had reasons for withdrawing its application. This move suggests that a leading crypto exchange like KuCoin is keen on complying with legal processes in the future. The exchange might have withdrawn the application to better complete the process.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-334777 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/kucoin-hong-kong-coin-turk-com-.jpg" alt="" width="1200" height="630"></p> 
<p style="text-align: justify">On the other hand, the initiation of an investigation by US authorities could have also changed the international outlook towards KuCoin. It seems the exchange might have anticipated the possibility of its application being rejected.</p> 
<h2 style="text-align: justify" id="crypto-currency-sector-remains-under-legal-scrutiny">Crypto Currency Sector Remains Under Legal Scrutiny</h2> 
<p style="text-align: justify">The crypto currency sector is under increased regulatory scrutiny in recent years. Authorities are focusing on issues such as anti-money laundering and know your customer policies. Concerns about consumer protection and market integrity are also not overlooked. The steps taken by the US Department of Justice against KuCoin can be seen as a reflection of this increasing regulatory pressure on crypto currency exchanges.</p> 
<p style="text-align: justify">In this challenging environment, crypto currency exchanges are striving to maintain operational efficiency while complying with regulations. For example, <a href="https://en.coin-turk.com/big-bitcoin-announcement-from-binance-now-available/" data-wpel-link="internal">Binance</a>‘s approach to reaching an agreement with the US Department of Justice can be cited as an example.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/kucoin-withdraws-license-application-in-hong-kong/" data-wpel-link="internal">KuCoin Withdraws License Application in Hong Kong</a></h5>

KuCoin Withdraws License Application in Hong Kong

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