KuCoin EU Bolsters Anti-Money Laundering Team Amid Regulatory Concerns

KuCoin EU, a European arm of the global cryptocurrency exchange KuCoin, has taken steps to address regulatory concerns in Europe by hiring anti-money laundering (AML) experts. The exchange, which operates under the Markets in Crypto Assets (MiCA) license from Austria's Financial Market Authority (FMA), has strengthened its AML team with several senior hires.

The move comes after the FMA ordered KuCoin EU to halt business in Europe due to a shortfall in AML and compliance staff. The exchange has appointed Carmen Kleinhans as anti-money laundering officer, alongside the expansion of its broader AML function.

Other senior hires include Austrian compliance veterans Stephan Klinger and Bernd Träxler, who have been appointed as deputy anti-money laundering officers. KuCoin EU Managing Director Sabina Liu stated that the exchange has maintained a transparent dialogue with the FMA and is committed to addressing regulatory concerns.