Cryptocurrency trade KuCoin has introduced a US$10 million airdrop for its customers, that includes Bitcoin and its native KuCoin Token (KCS), amidst allegations of unlawful operations and cash laundering.
The platform claims that the initiative is meant as a token of gratitude to the platform’s customers throughout a tumultuous section of authorized challenges.
The U.S. Division of Justice charged KuCoin and its two founders with working an unlicensed cash transmission enterprise and breaching anti-money laundering statutes earlier this week.
In keeping with the DOJ, founders Chun Gan and Ke Tang face a most sentence of 5 years in jail for every cost.
In the meantime, the Commodity Futures Buying and selling Fee has accused the trade of unauthorized commodity transactions.
Because the costs grew to become public, KuCoin instructed traders that the trade will proceed its operation and that buyer belongings are protected.
KuCoin’s authorized predicaments come as main cryptocurrency exchanges, together with Coinbase and Binance, face authorized problems with their very own.
On Thursday, Sam Bankman-Fried was sentenced to 25 years in jail for fraud costs associated to the FTX collapse.
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