BlockBeats News, September 25th, according to Reuters, the Canadian anti-money laundering agency said on Thursday that it has fined the operator of the cryptocurrency exchange KuCoin, Peken Global Limited, 19.6 million Canadian dollars (14.09 million US dollars).
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) stated that Peken Global, based in Seychelles, was not registered as a foreign money service business, did not report virtual currency transactions of 10,000 Canadian dollars or more, and did not submit suspicious transaction reports, which are requirements that all financial institutions must fulfill. This is the largest fine FINTRAC has ever imposed.
