KuCoin Ordered to Block US Traders and Pay $500,000 CFTC Penalty

The CFTC has fined Peken Global Limited – the KuCoin operating entity – $500,000 and issued a permanent injunction barring the exchange from serving U.S. traders, closing a civil enforcement loop that began with a March 2024 complaint against the platform for running an unregistered futures commission merchant and swap execution facility. The order mandates active blocking of U.S. user access, not merely …