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Cryptocurrency exchange KuCoin has settled its dispute with the U.S. Commodity Futures Trading Commission, agreeing to a $500,000 penalty. The decision closes the CFTC civil case, while also underscoring that pressure from US regulators on offshore crypto platforms remains broad and persistent.
Highlights
- KuCoin, through Peken Global, settled the CFTC case and will pay a $500,000 civil penalty.
- The regulator tied its claims to the operation of an unregistered offshore commodity platform and U.S. customer access to derivatives.
- Earlier, in January 2025, the company had already agreed to pay more than $297 million in a U.S. Justice Department case and to leave the U.S. market for at least two years.
Settlement with the CFTC and deal terms
As the CFTC said, the US District Court for the Southern District of New York entered a consent order against Peken Global Limited, KuCoin parent company. Under the agreement, the company will pay a $500,000 civil monetary penalty, resolving all of the agency claims in the case. Peken Global agreed to the settlement without admitting or denying the regulator findings.
The CFTC said KuCoin offered U.S. customers commodity derivatives and leveraged transactions from July 2019 through June 2023 without the required registration. In its March 2024 complaint, the regulator accused the company of engaging in off-exchange commodity futures activity, accepting orders without registering as a futures commission merchant, and failing to maintain an effective customer identification program. Peken Global also avoided disgorgement, or repayment of profits earned during the relevant period, because the CFTC cited the company voluntary cooperation with the investigation.
An additional term of the settlement bars KuCoin from giving US residents access to trading on the platform unless it registers with the CFTC as a foreign board of trade. In practice, that formalizes the exchange broader withdrawal from the U.S. market.
A signal for the industry
The KuCoin case shows that US regulators continue to divide enforcement by area: the CFTC focuses on derivatives and commodity-related activity, while the Justice Department targets licensing and anti-money laundering compliance.
The case sends a stronger message to global crypto exchanges: serving U.S. users without registration and strict compliance procedures remains one of the most expensive legal risks in the industry.
In an earlier report, we noted that KuCoin launches 1M USDT futures airdrop campaign.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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