Canadian Regulator Imposes Record $14.09M Penalty on KuCoin for Anti-Money Laundering Violations

Canada's financial intelligence unit FINTRAC has imposed a C$19.6 million ($14.09M) fine on KuCoin operator Peken Global Limited for failing to register as a foreign money services business and neglecting to report nearly 3,000 large cryptocurrency transactions between 2021-2024, marking the country's largest anti-money laundering penalty.