Briefly
- Kucoin was rated in the amount of $ 19.5 million ($ 14 million) to a fine because he is not in line with Canadian money laundering policies.
- The exchange complained of a decision at the Canadian Federal Court.
- Kucoin declared himself guilty of doing the unlicensed job that leaves money in the United States in January, paying $ 300 million in fine and deprivation.
Peken Global Limited, which acts as Crypto Exchange Kucoin, is confronted with $ 14 million-$ 19.5 million CAD-A-Kazna for laundering money from the Canadian Center for Analysis of Financial Transactions and Reports (Fintrac), the Agency announced on Thursday.
The company headquartered in Seychelles was hit by a penalty- The greatest ever imposed Fintracaccording to Reuters– In July because he did not adhere to a part of the first crime income (money laundering) and a law on the financing of terrorism, Fintrac said.
“The Canadian Money Funding Regime and anti-terrorist funding has been established to protect the safety of Canadian and the safety of the Canadian economy,” the director of Fintrac and the CEO Sarah Paquet said in a statement.
“Fintrac cooperates with companies to help them understand and fulfill their obligations under the law,” she added. “We are also firm in ensuring that the companies are still doing its part, and we will take appropriate actions when needed.”
According to a statement, Kucoin did not apply as money without foreign services, did not report large transactions of virtual currency above 10,000 USD CADs reported on suspicious transactions reports, even when there was a basis for it.
“Although Kucoin respects the decision -making procedure and remains dedicated to prescribing compliance and transparency, he does not agree with the finding that Kuco’s business is with foreign monetary services and sentences stated, which Kucoin claims that he is excessively and punishes in nature,” the statement said.
The company filed an appeal before the Federal Court of Canada on a significant and procedural basis.
In January Kucoin acknowledged guilt to manage the unlicensed money transfer The US job has agreed to pay almost $ 300 million in a fine and deprived in the settlement.
His co -founders Chun Gan and Ke Tang were also ordered to take $ 2.7 million in cash, and each left the company after the settlement.
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