• Kucoin told to halt new EU business due to compliance staffing shortfalls Austria’s financial regulator said Kucoin EU must appoint an anti-money-laundering officer and deputy officer, as well as a sanctions compliance officer and deputy. • What to know: The Austrian regulator said KuCoin EU no longer has suitable key function holders for anti-money laundering, terrorist financing compliance and financial sanctions roles. • The FMA granted Kucoin approval under the Markets in Crypto Assets regime in November. • Austria’s financial regulator said it prohibited the European arm of KuCoin from conducting new business and onboarding customers after the crypto exchange lost key compliance staff just months after gaining a Markets in Crypto Assets (MiCA) permit to operate across the European Union. • KuCoin EU no longer has key function holders in anti-money laundering (AML) and prevention of terrorist financing roles, according to astatement from the regulator, the FMA, which granted the licensein November. • The freeze will last until the firm appoints the necessary compliance reporting staff, it said.
Article Summaries:
- Austrian regulator the FMA has barred KuCoin EU from taking on new customers or launching new products until it appoints required compliance staff, citing a lack of anti‑money‑laundering (AML) and sanctions officers. The ban follows the exchange’s MiCA licence granted in November, which required these key roles to be filled. KuCoin EU says it is expanding its compliance team in Vienna and will appoint the missing officers soon. The decision underscores Austria’s growing role as a hub for crypto firms seeking EU market access under MiCA, with firms such as Bitpanda and Bybit already established there.
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