The U.S. Justice Department has accused KuCoin and its founders, Chun Gan and Ke Tang, of operating an unlicensed money-transmitting business and violating the Bank Secrecy Act. Officials claim the founders neglected to implement an Anti-Money Laundering program, facilitating money laundering and terrorist financing. U.S. Attorney Damian Williams criticized KuCoin for concealing U.S. user involvement, enabling the exchange to become a major global player with billions in daily trades and trillions in annual trading volumes.