KuCoin operator Peken Global Limited will pay the US Commodity Futures Trading Commission (CFTC) a $500,000 civil penalty.
The settlement will fully close the civil case against the exchange.
The US District Court for the Southern District of New York approved the agreement. KuCoin neither admits nor denies the allegations.
The CFTC considered the company’s cooperation with investigators and fines already paid in a parallel criminal case.
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Key Settlement Terms
Under the agreement, Peken Global Limited cannot provide US residents access to trading on KuCoin unless the exchange registers with the CFTC as a foreign board of trade.
The CFTC did not seek additional disgorgement of profits, given the costs the exchange has already incurred.
What This Means for the Exchange
The CFTC case concludes a series of US regulatory actions against KuCoin. The exchange, which previously positioned itself as the “people’s exchange,” is now effectively cut off from the US market indefinitely.
KuCoin previously had approximately 1.5 million registered users from the United States. It derived a significant portion of its fees from them. Now, US traders can access the platform only after the exchange fully registers as a foreign board of trade.
What Happened Between KuCoin and the CFTC?
The CFTC’s claims against KuCoin began in March 2024. The regulator accused the exchange of operating without registration as a foreign board of trade, using “sham” KYC procedures, and serving US customers.
In January 2025, KuCoin pleaded guilty to a criminal case brought by the US Department of Justice. It paid approximately $300 million in fines and forfeitures for operating an unlicensed money transmission business.
