As the CMB continues to update the list and companies work to meet regulatory requirements, the Turkish crypto market is poised for significant changes. The Turkish cryptocurrency landscape is experiencing a major transformation as prominent firms like Coinbase and KuCoin compete to obtain business licenses in the country. This surge in applications follows regulatory updates by the…
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Key Points: KuCoin airdrop worth $10 million in Bitcoin and its native KCS token will be launched following DOJ charges against the exchange and its founders. CEO Johnny Lyu expresses gratitude to users amidst regulatory concerns. There were capital outflows of $1.78 billion from KuCoin’s Ethereum and EVM chains and a significant drop in the price of…
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Key Points: KuCoin founders Chun Gan and Ke Tang are criminally charged with operating an unlicensed money-transmitting business and violating the Bank Secrecy Act. KuCoin allegedly concealed its substantial U.S. customer base while enjoying billions of dollars in daily trades. In a significant development, the United States Attorney for the Southern District of New York,…
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Key Points: In order to comply with regulations, KuCoin and Binance make KYC verification mandatory. Only a limited number of features, such as sell orders and withdrawals, are accessible to non-KYC users. On July 15, the new KYC registration for KuCoin goes into effect. KuCoin’s decision to enforce know-your-customer verification is in response to the…
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