KuCoin EU Appoints New AML Chief Following Regulatory Ban
- Carmen Kleinhans has been appointed as the new Anti-Money Laundering (AML) officer for KuCoin EU.
- The exchange’s compliance team in Vienna was expanded after Austria’s Financial Market Authority (FMA) barred it from onboarding new clients under the MiCA regime.
- The FMA found that key AML/CTF roles were inadequately staffed, violating internal requirements.
- KuCoin has faced significant penalties, including a nearly $300 million settlement to exit the US market for two years due to unlicensed operations.
- In March, KuCoin agreed to pay a $500,000 penalty related to operating an unregistered offshore commodities exchange.
These appointments aim to strengthen compliance with AML and Counter-Terrorist Financing (CTF) regulations amid increasing scrutiny on crypto exchanges by regulators globally.
With these changes, KuCoin EU is working towards meeting regulatory expectations following its recent ban on new business operations due to compliance failures. (Source)
