KuCoin Co-Founders Exit as Crypto Exchange Pays $297 Million for Running Unlicensed Business
KuCoin has pleaded guilty to running an unlicensed money-transmitting business in the U.S. and will pay nearly $300 million in fines and forfeitures. As part of the settlement, co-founders Chun Gan and Ke Tang have stepped down, while the exchange works to rebuild under stricter global regulatory oversight.
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