KuCoin Partners with Global Law Firm to Address Lawsuit
CryptoNewsTerminal Staff28 May, 2024
KuCoin Partners with Global Law Firm to Address Lawsuit
KuCoin, a well-known cryptocurrency exchange, has partnered with global law firm A&O Shearman to address the lawsuit initiated by the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC). This collaboration aims to effectively respond to the allegations brought forward by the U.S. authorities. In March, KuCoin, along with two related individuals, faced charges from the US DOJ and CFTC for allegedly violating the Bank Secrecy Act and the Anti-Money Laundering Act. KuCoin CEO Johnny Lyu stated, "We have formed a partnership with A&O Shearman to respond to the lawsuit filed by the DOJ and CFTC." KuCoin and its legal team will continue to work closely with A&O Shearman to address the allegations and defend against the charges. The exchange remains committed to adhering to all applicable laws and regulations while maintaining its position as a reputable player in the cryptocurrency industry.
