Tag: KuCoin

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India’s FIU Considers Approving More Offshore Crypto Exchanges

September 6, 2024

India’s Financial Intelligence Unit is reportedly reviewing four offshore cryptocurrency exchanges for potential approval to resume operations following the lifting of bans on Binance and Kucoin. The focus is on ensuring compliance with anti-money laundering regulations, including transaction transparency and reporting of suspicious activity. FIU-India May Permit More Offshore Crypto Exchanges Next Year India’s Financial…
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Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users

July 5, 2024

Nigeria-based KuCoin users will begin being levied a 7.5% value-added tax (VAT) on transaction fees starting on July 8. Some observers believe that Kucoin’s decision to implement this tax is intended to enhance its chances of securing an operating license. A Lagos-based crypto industry player stated that implementing the tax will likely harm the industry.…
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Layerzero’s ZRO Token Listed on Major Exchanges, Boosting Cross-Chain Communication Potential

June 21, 2024

Layerzero’s native token, ZRO, has been listed on several major cryptocurrency exchanges, marking a significant milestone for the cross-chain communication protocol. Binance, Upbit, Okx, Bybit, Gate.io, Bitget, Kucoin, MEXC, and Woo X have all added ZRO to their platforms, offering various trading pairs. Layerzero distinguishes itself with its innovative approach to cross-chain communication, facilitating the…
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Indian Regulator Advocates Multi-Agency Approach for Crypto

May 18, 2024

The Securities and Exchange Board of India (SEBI) has submitted its recommendations for regulating crypto assets to a government panel. SEBI suggests multiple regulators for different aspects of cryptocurrency trade. India’s central bank, the Reserve Bank of India (RBI), however, views crypto as a macroeconomic risk, highlighting concerns about tax evasion and fiscal stability. SEBI…
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India Approves Crypto Exchanges Binance and Kucoin as Registered Virtual Asset Service Providers

May 11, 2024

Cryptocurrency exchanges Binance and Kucoin have successfully registered with India’s Financial Intelligence Unit as Virtual Asset Service Providers (VASPs), a top official has reportedly confirmed. Both crypto exchanges were previously banned in India due to violations of the country’s anti-money laundering regulations. Kucoin and Binance Registered With FIU India The Financial Intelligence Unit – India…
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Binance and KuCoin Granted Approval by India’s Anti-Money Laundering Unit

May 10, 2024

The Financial Intelligence Unit of India (FIU-IND) revealed on May 10 that Binance and KuCoin successfully registered with the regulatory body on May 10. It should be noted that these two exchanges were among several offshore entities that were banned last year, which included Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. Crypto Exchanges Gain…
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CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as Commodities

March 28, 2024

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kucoin, emphasizing the classification of bitcoin, ethereum, and litecoin as commodities. The enforcement action, launched in the U.S. District Court for the Southern District of New York, accuses Kucoin of multiple regulatory breaches involving these digital assets. Kucoin’s Legal Battles Shine a Bright…
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Kucoin’s Legal Woes Spark Massive $1.7 Billion Withdrawal, Onchain Data Reveals

March 27, 2024

After the Kucoin indictment on Tuesday, subsequent onchain data from Nansen indicates that, to date, $1.7 billion in funds have been withdrawn from the exchange. Crypto Assets Worth $1.7 Billion Pulled From Kucoin Since the Department of Justice (DOJ) accused Kucoin and its founders of breaching the Bank Secrecy Act and anti-money laundering regulations, there…
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KuCoin Sees Over $1 Billion Outflows After Money Laundering Charges in US

March 27, 2024

Crypto exchange KuCoin saw over $1 billion in outflows in the last 24 hours after the US prosecutors announced charges against the exchange and two of its founders, Chun Gan and Ke Tang, for violating anti-money laundering laws. The US Department of Justice revealed in its indictment that the crypto exchange did not register with…
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Nansen Reports $200 Million Exodus From Kucoin After DOJ Action

March 27, 2024

Following the Department of Justice’s (DOJ) legal action against Kucoin and its founders, analysts from Nansen specializing in real-time onchain data revealed that Kucoin experienced a withdrawal of $99 million in Ethereum-based assets and $109 million in outflows from various EVM-compatible chains. Ethereum and EVM Chains See $200 Million Outflow From Kucoin On a Tuesday,…
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