Established in 2017, KuCoin is one of the largest crypto exchanges worldwide, with more than 11 million customers. MEK Global Limited, registered in Seychelles, and PhoenixFin Pte. Ltd in Singapore are the operating entities. In early August 2022, Canada’s Ontario Securities Exchange (OSC) warned against KuCoin for unauthorized securities trading based on a report of the Capital Markets Tribunal in Toronto. On September 5, 2022, the Spanish CNMV issued a warning against the crypto exchange.
Key Data
| Trading name | KuCoin |
| Business activity | Crypto exchange Crypto derivate exchange |
| Domain | www.kucoin.com |
| Legal entities | MEK Global Limited, Seychelles PhoenixFin Pte. Ltd, Singapore |
| Jurisdictions | Seychelles, Singapore |
| Authorization | No |
| Warnings | FSA Seychelles, OSC, CNMV |
| Remarks | OSC investigation qualified KuCoin as securities trader |
Short Narrative
An extensive investigation by the Capital Market Tribunal in Toronto has found that KuCoin crypto financial instruments such as the Crypto Futures Contract qualify as securities. The crypto exchange does not have the required permission to engage in securities trading. After the OSC‘s published investigation, KuCoin removed the legal entities from its Terms of Use and Privacy Policy pages. Apparently, they do not want to make it too easy for the regulators.
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If you have any information about KuCoin, its operators, and its activities, please let us know via our whistleblower system, Whistle42.
