VERIFIEDBy Xavier Rivera· ·1 min read
KuCoin EU Hires AML Officer After Austrian Halt Order
KuCoin EU hires an AML officer and two deputies to address Austria’s FMA order halting its EU business over staffing shortfalls. The exchange awaits regulator approval to resume operations amid other global regulatory challenges.
Source:CoinDesk
TL;DRAI · 60 sec read
The European arm of cryptocurrency exchange KuCoin halts business across the EU after Austria’s Financial Market Authority (FMA) cited a shortfall in anti-money laundering (AML) and compliance staff.
KuCoin EU, which holds a Markets in Crypto Assets (MiCA) license from the FMA, appoints Carmen Kleinhans, an AML and legal veteran, as its anti-money laundering officer (AMLO). The exchange also hires Austrian compliance veterans Stephan Klinger and Bernd Träxler as deputy AMLOs, while expanding its broader AML function, according to a company press release.
KuCoin EU Managing Director Sabina Liu states the exchange fully communicated with the FMA during the February action and maintains a transparent dialog. "They have been very honest, transparent and very supportive of us," Liu says. She adds that the compliance team has grown significantly since February.
Liu provides no timeline for resuming EU operations, noting it requires discussion with the FMA. KuCoin recently faced a U.S. Commodity Futures Trading Commission (CFTC) order barring it from the market and a slap from Dubai’s VARA regulator for unlicensed operations.
KuCoin EU, which holds a Markets in Crypto Assets (MiCA) license from the FMA, appoints Carmen Kleinhans, an AML and legal veteran, as its anti-money laundering officer (AMLO). The exchange also hires Austrian compliance veterans Stephan Klinger and Bernd Träxler as deputy AMLOs, while expanding its broader AML function, according to a company press release.
KuCoin EU Managing Director Sabina Liu states the exchange fully communicated with the FMA during the February action and maintains a transparent dialog. "They have been very honest, transparent and very supportive of us," Liu says. She adds that the compliance team has grown significantly since February.
Liu provides no timeline for resuming EU operations, noting it requires discussion with the FMA. KuCoin recently faced a U.S. Commodity Futures Trading Commission (CFTC) order barring it from the market and a slap from Dubai’s VARA regulator for unlicensed operations.
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