US prosecutors try to send warning to cryptocurrency world with KuCoin prosecution

By LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — A top U.S. prosecutor has announced criminal charges against a once ascending company in the cryptocurrency world and two of its founders in a bid to send a message to other players in the industry to follow U.S. laws. U.S. Attorney Damian Williams said Tuesday that the charges against KuCoin should warn other crypto exchanges that they cannot serve U.S. customers without following U.S. laws. Darren McCormack, who heads the New York office of Homeland Security Investigations, said the prosecution will expose one of the largest global cryptocurrency exchanges as a multibillion-dollar criminal conspiracy.