The United States Department of Justice (DOJ) has criminally charged KuCoin, a prominent global cryptocurrency exchange, and two of its founders, Chun Gan (also known as Michael) and Ke Tang (also known as Eric), with violations of the Bank Secrecy Act and operating an unlicensed money transmission business since its founding in 2017. Each charge carries a maximum sentence of five years in prison. The indictment alleges that Gan, Tang, and KuCoin knowingly flouted U.S. anti-money laundering (AML) laws and obligations, choosing to operate without the necessary licensing and failing to implement adequate AML programs, involving the laundering of $9B. This case marks a significant action by U.S. authorities against entities in the cryptocurrency sector for AML law violations.