US regime charges Seychelles cryptocurrency exchange with failure to invade US customers’ privacy

Source: Reuters

“Federal prosecutors in Manhattan on Tuesday charged KuCoin, one of the world’s largest cryptocurrency exchanges, with violating U.S. anti-money laundering laws by failing to vet customers, allowing billions of dollars in illicit [sic] funds to be transferred since its founding in 2017. Prosecutors said the Seychelles-based exchange sought business from U.S. customers without registering with the Treasury Department and putting in place procedures to verify clients’ identities as required by U.S. law. KuCoin posted on social media site X that customer assets are safe and its lawyers are looking into the allegations.” [editor’s note: Even if US laws on this weren’t vile and idiotic, why would it be the exchange’s job to enforce them? Any legitimate legal matters would be between US residents and the US government, not between the US government and a non-US business – TLK] (03/26/24)