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NEW: 🇨🇳 Chinese court deems BKEX's cryptocurrency futures gambling, convicts staff. Founded by fugitive Ji Jiaming, it offered leveraged futures trading (up to 1000x) on Bitcoin and Ethereum, attracting over 270K users and earning 💵 $55M between 2019 and 2022. https://t.co/6ZabXxDGNt
Supreme Court Sanctions Agreement for FTX DM Joint Official Liquidators to Subordinate Securities Commission of The Bahamas’ $221.55 Million Regulatory Penalties Claim https://t.co/Jkq6bHwWBy https://t.co/OYRPxhvLxM
KuCoin pleads guilty, pays nearly $300 million fine in criminal case January 27, 2025 https://t.co/rpPusPTTsB
KuCoin, one of the largest cryptocurrency exchanges, has pleaded guilty to operating an unlicensed money transmission business and has agreed to pay a settlement of $297 million to the U.S. government. The announcement was made by the U.S. Attorney’s Office for the Southern District of New York on January 27, 2025. The settlement reflects the company's acknowledgment of its legal violations in the cryptocurrency sector, marking a significant development in regulatory actions against digital asset platforms.
