CFTC Bars KuCoin Operator From U.S. After $297M DOJ Case
The U.S. Commodity Futures Trading Commission has prohibited Peken Global Limited — the operator behind KuCoin — from offering services to U.S. users unless and until it registers as a foreign board of trade. The move comes after a $297 million Department of Justice case tied to the platform, signaling coordinated enforcement across agencies aimed at unregistered crypto trading venues.
For U.S. customers, the order could mean restricted access to KuCoin products and a push for the exchange to either comply with U.S. registration requirements or withdraw service. The decision underscores growing regulatory pressure on global crypto platforms to meet American compliance standards, and it may accelerate similar actions against other offshore operators that continue to serve U.S. traders without registration.