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NEWS: KuCoin pleads guilty, agrees to pay nearly $300 million in US crypto case

Representation of cryptocurrency is seen in front of a Kucoin logo in this illustration taken on February 9, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

By Jonathan Stempel

KUCOIN, one of the world’s largest cryptocurrency exchanges, has pleaded guilty to operating an unlicensed money transmitting business, and agreed to more than $297 million in fines and forfeiture, the U.S. Department of Justice said.

Peken Global Ltd, which operates as KuCoin, entered its plea before U.S. District Judge Andrew Carter in Manhattan.

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