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The cryptocurrency exchange KuCoin pleaded guilty to operating an unlicensed money transmitting business and agreed to almost $300 million in fines and forfeitures, resolving a criminal case after settling similar civil claims in New York more than a year ago.
Seychelles-based Peken Global Ltd., one of three entities doing business as KuCoin, entered its plea Monday before US District Judge Andrew Carter in Manhattan as part of an agreement with federal prosecutors. The judge imposed a fine of about $113 million and forfeitures of $184.5 million.
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