A court on Monday levied a penalty of $500,000 against Peken Global Limited, the company that operates the KuCoin cryptocurrency exchange, and prohibited it from serving U.S. users without registering with the CFTC.

Court Orders No Future Violations

The order by the U.S. District Court for the Southern District of New York also stated that the CFTC is not pursuing disgorgement, nor is the court imposing it, based on the specifics of this case.

“The order permanently enjoins Peken Global from future violations, as charged, and requires Peken Global to pay a $500,000 civil monetary penalty,” a CFTC press release said.

The consent order and the dismissal conclude all claims that the…

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