The United States Justice Department has revealed charges against cryptocurrency exchange KuCoin and its founders for engaging in an unlicensed money transmitting business and violating the Bank Secrecy Act. The indictment accuses KuCoin founders Chun Gan and Ke Tang of intentionally neglecting to implement an Anti-Money Laundering program, allowing the platform to be used for money laundering and terrorist financing. Additionally, the company itself is charged with operating without a license for money transmission. U.S. Attorney Damian Williams stated that KuCoin and its founders purposely concealed the significant presence of U.S. users on the platform, enabling it to become one of the world’s largest cryptocurrency exchanges. Alongside the criminal charges, the U.S. Commodity Futures Trading Commission (CFTC) has filed a civil enforcement case against KuCoin, citing multiple violations of the Commodity Exchange Act and CFTC regulations. The Justice Department alleges that suspicious and criminal funds totaling over $4 billion were received and sent by KuCoin. The exchange was established in 2017 by Gan and Tang, who are currently evading arrest. This recent case is part of a larger trend in which U.S. authorities are cracking down on crypto-related crimes, with other prominent figures in the industry facing sentencing for their involvement in illegal activities.