KuCoin EU Bolsters Anti-Money Laundering Team to Address Regulatory Concerns

In a move to placate its regulator and address concerns over anti-money laundering and compliance staffing, the European division of cryptocurrency exchange KuCoin has expanded its team with key appointments. Carmen Kleinhans has been named as the new Anti-Money Laundering Officer, with the broader AML function also being strengthened. Additionally, seasoned compliance experts Stephan Klinger and Bernd Träxler have joined as Deputy Anti-Money Laundering Officers. According to KuCoin EU Managing Director Sabina Liu, the exchange has maintained open and transparent communication with the FMA since the regulatory action in February, and has been actively working to reinforce its compliance team. Despite recent setbacks, including being barred from the US and facing regulatory issues in Dubai, KuCoin EU is focused on strengthening its compliance capabilities. However, a timeline for resuming European operations has not been disclosed, pending further discussions with the FMA.