Cryptocurrency Q&A
Why is KuCoin banned in the US?
Why is KuCoin banned in the US?
Michele
Mon May 27 2024
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7 answers
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Could you please explain why KuCoin is prohibited in the United States? I'm curious to understand the reasons behind this ban. Is it due to regulatory concerns? Or is it because of KuCoin's specific business practices that clash with US laws? Additionally, how does this ban affect users in the US who might be interested in using KuCoin's services? Could there be any workarounds or alternatives for them? Thank you for clarifying this matter for me.
7 answers
CryptoWizard
Wed May 29 2024
The complaint alleges that KuCoin, a cryptocurrency exchange, engaged in unauthorized activities within the United States.
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SeoulSerenity
Wed May 29 2024
Specifically, it is claimed that KuCoin offered and executed commodity derivatives and leveraged, margined, or financed commodity transactions to individuals residing in the U.S.
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noah_wright_author
Tue May 28 2024
This alleged activity occurred from approximately July 2019 to June 2023, a significant period of time during which KuCoin purportedly operated unchecked.
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GeishaCharm
Tue May 28 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures trading, and wallet services.
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SamuraiHonor
Tue May 28 2024
One of the primary issues raised in the complaint is KuCoin's failure to implement required know-your-customer (KYC) compliance procedures.
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