KuCoin EU Hires AML Chief After Austria MiCA Business Ban
KuCoin EU has appointed a new AML chief and expanded its compliance team in Vienna following regulatory restrictions in Austria.Summary
KuCoin EU has appointed Carmen Kleinhans as its new Anti-Money Laundering (AML) officer, supported by two deputy officers recruited from regulatory and banking backgrounds. This expansion of the compliance team in Vienna aims to address deficiencies identified by Austria’s Financial Market Authority (FMA), which previously barred the exchange from onboarding new clients due to inadequate staffing in AML, CTF, and sanctions roles.
The move occurs amidst intensified global regulatory scrutiny on cryptocurrency exchanges. Recent reports highlight a shift in enforcement, with regulators increasingly penalizing platforms for governance and financial crime control failures rather than just technical licensing breaches. KuCoin has faced significant regulatory challenges recently, including a $300 million settlement in the US and penalties from the CFTC and Dubai's VARA.
Whether these new hires will satisfy the FMA and allow KuCoin EU to resume normal business operations depends on the regulator's upcoming assessment of the company's restored control functions.
(Source：Cointelegraph)