Settlement Between KuCoin and CFTC Delayed
Crypto exchange KuCoin may face delays due to a policy shift at the CFTC to deprioritize cases against crypto companies.
CFTC attorney John Murphy submitted a letter on April 21 to District Judge Valerie Caproni, requesting more time to secure approval for a deal negotiated under the Biden administration, as reported by Law360.
He indicated that authorization is unlikely in the near term, citing acting CFTC Chair Caroline Pham’s recent remarks about deprioritizing crypto company cases.
In March 2024, the CFTC charged KuCoin with multiple violations of the Commodity Exchange Act and CFTC regulations.
The Justice Department also pressed charges against KuCoin and two founders for violating Anti-Money Laundering laws, noting that the exchange handled over $5 billion and transmitted more than $4 billion in suspicious and criminal funds.
