The European arm of global cryptocurrency exchange KuCoin has hired anti-money laundering (AML) and compliance experts in a bid to appease its regulator, which recently demanded the exchange halt its business in Europe due to a staff shortage.
KuCoin EU, which holds a Markets in Crypto Assets (MiCA) license from Austria’s FMA, has appointed Carmen Kleinhans as anti-money laundering officer (AMLO), alongside the expansion of its broader AML function, the company said in a press release on Wednesday.
The exchange also hired Austrian compliance veterans Stephan Klinger and Bernd Träxler as deputy anti-money laundering officers.
KuCoin EU CEO Sabina Liu said the exchange had “fully communicated” with the FMA when the action occurred in February.
“We always maintain a very transparent and open dialogue with them, and also the other way around. They have been very honest, transparent and very supportive,” Liu said in an interview. “Since February, we’ve been looking to strengthen the entire compliance team, making a lot of appointments. So it’s quite a big team now.”
KuCoin has been on a strong rise lately, having been banned from the US following an order from the Commodity Futures Trading Commission (CFTC) and being slapped by Dubai regulator VARA for operating without the proper license.
Liu was unable to provide a timeline for when the Austrian regulator would allow KUCoin EU to resume operations in Europe. “I think everything needs to be discussed with the FMA,” he said.
