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US DOJ has hit KuCoin and two founders with money laundering charges. KCS price fell sharply after the news. The US Justice Department has charged KuCoin and two co- founders of the Crypto exchange for operating “an unlicensed money transmitting business and for Bank Secrecy Act violations. An announcement the US released on Tuesday, March 26 indicated the US had charged Chun Gan and Ke Tang for flouting US anti-money laundering laws as they sought to grow the exchange into one of the largest in the world today. “As today’s Indictment alleges, KuCoin and its founders deliberately sought to conceal the fact that substantial numbers of U.S. users were trading on KuCoin’s platform,” US Attorney Damian Williams said in a press release. Williams added” “KuCoin allegedly took advantage of its sizeable US customer base to become one of the world’s largest cryptocurrency derivatives and spot exchanges, with billion...

The US has issued sanctions against a Russian businesswoman, accusing her of helping Russian oligarchs bypass sanctions via crypto exchanges, laundering their funds, and using Dubai to legitimize money trails. As announced on Friday by the US Treasury Department, 37-year-old Ekaterina Zhdanova is alleged to have helped international oligarchs from Russia bypass US sanctions that were implemented during the Ukraine war.  Zhdanova is said to have used crypto to move over $100 million to the United Arab Emirates (UAE) on behalf of one wealthy client and allegedly offered a local tax residency service to help Russians create an origin of funds that international authorities wouldn’t question.  According to officials, “Through key facilitators like Zhdanova, Russian elites, ransomware groups, and other illicit actors sought to evade U.S. and international sanctions, particularly through the abuse of virtual currency.” Zhdanova allegedly US ed sanctioned crypto exchanges, such as Garan...