KuCoin has received a decision from the Director of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) upholding a Notice of Violation issued on March 31, 2025.
While KuCoin respects the decision-making process and remains committed to regulatory compliance and transparency, it disagrees with both the finding that KuCoin is a Foreign Money Services Business and the penalty imposed, which KuCoin maintains is excessive and punitive in nature.
KuCoin has exercised its statutory right and formally submitted an appeal before the Federal Court of Canada on both substantive and procedural grounds.
