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To Evade AML Rules, Exchange Blocked US Clients from Stating Their Locations

A global cryptocurrency exchange and trading platform registered in the Cayman Islands and Seychelles but secretly run from China, Singapore and elsewhere laundered hundreds of millions of dollars from a broad range of crimes since opening in 2017, U.S. authorities alleged Tuesday. A 24-page criminal complaint in Manhattan charges a trio of legal entities that owned the exchange, KuCoin, and the exchange's two Chinese co-founders, Chun Gan, 34, and Ke Tang, 39, with actively concealing the platform's ties with American customers so as to appear exempt from U.S. anti-money laundering and know-your-customer requirements. By KuCoin's own account, the ties are...

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