KuCoin Fights $19.5M FINTRAC Penalty in Federal Court

TLDR: KuCoin is appealing FINTRAC’s $19.5M penalty, calling it excessive and challenging its classification as a foreign MSB. FINTRAC found KuCoin failed to register, report large crypto transactions, and submit suspicious activity reports. The appeal was filed before Canada’s Federal Court, with KuCoin seeking a fair hearing on both procedural and legal grounds. FINTRAC reported [...]

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