Page 31 - 期货和衍生品行业监管动态（2024年4月）

期货和衍生品行业监管动态

operated a facility for the trading or processing of swaps without registering with the

CFTC as a swap execution facility (SEF) or designated contract market (DCM); and

failed to implement an effective customer identification program (CIP).

In its continuing litigation against KuCoin, the CFTC seeks disgorgement, civil

monetary penalties, permanent trading and registration bans, and a permanent

injunction against further violations of the CEA and CFTC regulations, as charged.

“For too long, some offshore crypto exchanges have followed a now-familiar

playbook by offering derivative products and falsely claiming people in the United

States cannot use their platforms, when in reality, anyone in the U.S. with commonly

used technology can trade without providing basic customer identifying information,”

said Director of Enforcement Ian McGinley.

“As made clear by the CFTC’s action today and its previous enforcement actions,

the CFTC’s playbook should also now be familiar – the CFTC will charge such

entities with failing to register with the CFTC and failing to comply with the agency’s

rules that protect U.S. customers and prevent and detect terrorist financing and money

laundering,” McGinley continued.

Case Background

According to the complaint, KuCoin offered and executed commodity

derivatives and leveraged, margined, or financed commodity transactions to and for

people in the U.S. from approximately July 2019 to approximately June 2023, and

failed to implement required know-your-customer (KYC) compliance procedures. The

complaint further alleges that although KuCoin claimed to have implemented KYC

procedures, those procedures were a sham and did not prevent U.S. customers from

trading commodity interests and derivatives on the platform.

The complaint also alleges people who identified themselves as being U.S.

customers were permitted to trade commodity futures, swaps, and leveraged,

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