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KuCoin Operator Peken Global Settles CFTC Case for $500,000

KuCoin Operator Peken Global Settles CFTC Case for $500,000

The Commodity Futures Trading Commission (U.S. derivatives regulator) said the offshore platform let U.S. residents trade without registration and collected about $110 million in fees from those customers.

KCS

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Terms & Concepts
  • CFTC: The Commodity Futures Trading Commission is the U.S. regulator that oversees derivatives markets, including certain crypto trading products and platforms.
  • Unregistered offshore platform: A trading venue based outside the United States that serves U.S. users without obtaining required regulatory approval.
  • Civil lawsuit: A non-criminal legal action seeking penalties, restrictions, or other remedies for alleged violations.