Page 31 - 期貨和衍生品行業(yè)監管動(dòng)態(tài)（2024年4月）
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期貨和衍生品行業(yè)監管動(dòng)態(tài)
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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