{"id":88173,"date":"2023-12-12T19:32:28","date_gmt":"2023-12-12T17:32:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88173"},"modified":"2025-09-13T16:21:53","modified_gmt":"2025-09-13T13:21:53","slug":"kucoin-to-pay-over-22-million-to-settle-new-york-attorney-generals-claims","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kucoin-to-pay-over-22-million-to-settle-new-york-attorney-generals-claims\/","title":{"rendered":"KuCoin to pay over $22 million to settle New York attorney-general&#8217;s claims"},"content":{"rendered":"<p>The bitcoin exchange KuCoin has reached <a href=\\\"https:\/\/iapps.courts.state.ny.us\/nyscef\/ViewDocument?docIndex=el\/WpBM6jwRM\/EoBoL17tw==\\\">an agreement<\/a> with the Office of the New York Attorney General (OAG) to settle the claims, under which it will pay more than $22 million.<\/p>\n<p>In March, Letitia James <a href=\"https:\/\/forklog.com\/en\/news\/new-york-attorney-general-sues-kucoin-over-unregistered-offerings\">brought charges against the platform<\/a> for violating securities laws by offering digital assets without a license.<\/p>\n<p>According to the statement, KuCoin operated without registration as a broker-dealer and &#8216;falsely presented itself as an exchange&#8217;.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">1\/ I want to update all of you about our latest compliance action. <a href=\"https:\/\/twitter.com\/kucoincom?ref_src=twsrc%5Etfw\">@kucoincom<\/a> has reached a settlement with the New York Attorney General (NYAG), solidifying our commitment to compliant operations.<\/p>\n<p>\u2014 Johnny_KuCoin (@lyu_johnny) <a href=\"https:\/\/twitter.com\/lyu_johnny\/status\/1734576425288761645?ref_src=twsrc%5Etfw\">December 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI want to inform everyone about our latest compliance actions.<a href=\"https:\/\/twitter.com\/kucoincom\"> <\/a>KuCoin has reached an agreement with the New York Attorney General, confirming our commitment to regulatory compliance,\u201d said Johnny Liu, the company&#8217;s CEO, to users.<\/p>\n<\/blockquote>\n<p>KuCoin agreed to return to customers in the state $16,766,642, and to pay the regulator $5.3 million. The exchange will cease operations in New York, closing user accounts.<\/p>\n<p>The court-approved order requires the platform to comply within 120 days.<\/p>\n<p>As a reminder, in 2022 regulators issued warnings about KuCoin&#8217;s unregistered activity in <a href=\"https:\/\/forklog.com\/en\/news\/ontario-regulator-warns-investors-away-from-kucoin\">Canada<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/dutch-central-bank-says-kucoin-operates-without-registration\">the Netherlands<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bitcoin exchange KuCoin reached an agreement with the New York State Attorney General to settle the claims, under which it will pay more than $22 million.<\/p>\n","protected":false},"author":1,"featured_media":88174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1411,748,36],"class_list":["post-88173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-kucoin","tag-new-york","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88173"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88173\/revisions"}],"predecessor-version":[{"id":88175,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88173\/revisions\/88175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88174"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}