A federal court has permanently barred KuCoin operator Peken Global Limited from catering to U.S. users unless it registers as a foreign board of trade, following a $297 million DOJ case.
Peken must pay a $500,000 civil penalty and cannot offer U.S. participants trading access without registration. The exchange once had 1.5 million U.S. users who generated $184.5 million in fees.
Court also dismissed remaining claims against related entities Mek Global Limited, PhoenixFin PTE Ltd., and Flashdot Limited.