- Kucoin has reached a settlement on its compliance fees with US DOJ.
- Crypto Exchange’s token price increased by 11% over the past 24 hours.
Cryptocurrency Exchange Kucoin has confirmed its solution with the US Justice Department. At the same time, the overall Cryptocurrency community is currently fighting the aftermath of the latest market dip. The Ethereum Foundation made it to today’s limelight by selling a large number of ETH tokens during its dip.
Noteworthy, Kucoin’s residence, confirmed a few hours ago, has received a lot of attention. According to the official ReportKucoin must fulfill several conditions on which DOJ has agreed to release the fees. The first and most important postulate in the agreement requires the exchange to leave the US markets for two years.
In addition, Crypto Exchange’s two founders Chun Gan and Ke Tang have also satisfied themselves with DOJ. In addition, Kucoin has appointed BC Wong as its new CEO. This change in leadership is emphasized as the exchange of the exchange to rebuild its clear path forward.
CEO BC Wong pronounced in a new report:
“This resolution means a new chapter for Kucoin, one that confirms our commitment to compliance, security and innovation. While leaving the United States is currently focusing on strengthening our global compliance practice … ”
In addition, US DO has also demanded an amount exceeding $ 297 million in fines from Kucoin. The fine includes $ 112.9 million in penalties and loss of $ 184.5 million. Kucoin faced charges of lacking a license for providing trade services in the United States regarding its Global Ltd US Company Name.
How does Kucoin react to US DOJ settlement?
The prominent crypto change has taken an optimistic approach to settlement terms, including the US market output. They have said that it would give them a clear way forward and confirm their compliance standards.
In addition, the company also stated that it would work optimally in non-limiting markets at a global level. It would work to overcome US regulatory challenges at the same time, says the report.
This has resulted in the exchange of Cryptocurrency – the Kucoin token, which shows significant powerful waves. In the last 24 hours, the token price has risen by 11% according to CMC data. In the meanwhile mentioned, Ethereum Foundation’s It -sales continue to be the conversation of society.
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