[Exchanges](https://revain.org/exchanges/) › KuCoin

# KuCoin: licences, security, fees and reviews

Centralized exchange

## Key facts

- **Type**: Centralized exchange
- **Exchange launched**: 2017
- **Operator**: Peken Global Limited
- **Official site**: [kucoin.com](https://www.kucoin.com/)

Key facts checked on 29 October 2026 against official sources and regulator registers.

## What is KuCoin

KuCoin is a centralised cryptocurrency exchange launched in September 2017. Its global platform is operated by Peken Global Limited. It offers spot, margin, futures and options trading, Earn products, a payment card and its own token, KCS; in the EEA a separate company, KuCoin EU Exchange GmbH, holds a MiCA authorisation from Austria.

## Good to know

- Official records differ on where the operator is incorporated: the US DOJ (January 2025) and Canada's FINTRAC call Peken Global Limited a Seychelles entity, while the CFTC (March 2026) says it is incorporated in the Turks and Caicos Islands. [↗](https://www.cftc.gov/PressRoom/PressReleases/9203-26)
- KuCoin's own story says its founders wrote the first code in 2013; the exchange itself was founded in September 2017 according to US court records. [↗](https://www.kucoin.com/about-us)
- KuCoin EU Exchange GmbH runs a separate platform for the EEA (kucoin.com/en-eu). According to ESMA's register, Austria's FMA authorised it under MiCA on 27 November 2025 to provide services in 29 EEA countries (Austria plus 28 by passport), including France and the Netherlands, which the global platform's terms list as restricted. [↗](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv)
- In its US guilty plea, Peken agreed that KuCoin will exit the US market for at least two years and that co-founders Chun (Michael) Gan and Ke (Eric) Tang will no longer have any role in its management or operations. [↗](https://www.justice.gov/usao-sdny/pr/kucoin-pleads-guilty-unlicensed-money-transmission-charge-and-agrees-pay-penalties)
- According to the US DOJ, KuCoin did not require customers to provide identifying information until at least July 2023 and adopted mandatory KYC in August 2023. [↗](https://www.justice.gov/usao-sdny/pr/kucoin-pleads-guilty-unlicensed-money-transmission-charge-and-agrees-pay-penalties)
- In Australia, KuCoin says Axis One Markets Pty Ltd (DCE-100844683-001) is registered with AUSTRAC as a digital currency exchange; derivative products there are issued by Echuca Trading Pty Ltd under AFSL 297499. [↗](https://www.kucoin.com/en-au/broker)
- KuCoin Thailand, launched in April 2025 with KuCoin's support, is operated by a local company, ERX Company Limited; in its launch post of 24 April 2025 KuCoin described it as licensed by Thailand's SEC. [↗](https://www.kucoin.com/blog/kucoin-supports-the-official-launch-thailand)
- Residents of Brazil use KuCoin under separate KuCoin Brasil terms of use instead of the global terms. [↗](https://www.kucoin.com/legal/terms-of-use)
- India's FIU-IND fined Peken Global Limited (KuCoin) Rs 34,50,000 on 22 March 2024 for breaching the anti-money-laundering law (PMLA) while serving Indian clients. [↗](https://fiuindia.gov.in/pdfs/judgements/PGL_Order_08_2024.pdf)
- South Korea's FIU lists KuCoin as an unregistered virtual asset operator referred to investigators on 17 August 2022; in October 2026 Korea's media regulator decided, at the FIU's request, to block access to its website. [↗](https://www.fsc.go.kr/no010101/87916)

## Services

| Parameter | Details |
|---|---|
| Trading | Spot, margin and futures trading |
| Derivatives | Options trading launched in Q4 2024 |
| Staking / Earn | KuCoin Earn, including flexible savings products |
| Card | KuCard crypto payment card (Visa, launched Q4 2023; Mastercard in Australia from Q2 2026) |
| Copy trading | Futures copy trading |
| Own token | KuCoin Token (KCS), used for trading fee discounts |
| Custody / wallet | KuCoin Web3 Wallet, a self-custody wallet |
| Own blockchain | KuCoin Community Chain (KCC), launched in Q2 2021 |
| Fiat deposits | SEPA deposits for European users (since Q1 2022) and euro trading pairs |
| Tokenised assets | Tokenised equities (xStocks), launched in Q3 2025 |

## Licences and registrations

| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| European Union | KuCoin EU Exchange GmbH | MiCA crypto-asset service provider authorisation (custody, exchange, placing, transfers), granted 27 November 2025; services in 29 EEA countries (Austria plus 28 by passport) | [Austrian Financial Market Authority (FMA)](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv) |
| Australia | Axis One Markets Pty Ltd | Digital currency exchange registration DCE-100844683-001 (as stated by KuCoin) | [AUSTRAC](https://www.kucoin.com/en-au/broker) |
| Thailand | ERX Company Limited (KuCoin Thailand) | Digital token and cryptocurrency exchange operated by a local partner; KuCoin described it as fully licensed by Thailand's SEC in its launch post of 24 April 2025 (current status not confirmed on the SEC website on 29 October 2026) | [Securities and Exchange Commission, Thailand](https://www.kucoin.com/blog/kucoin-supports-the-official-launch-thailand) |
| Australia | Axis One Markets Pty Ltd | Corporate Authorised Representative (CAR 1318896) of Echuca Trading Pty Ltd (AFSL 297499), the issuer of derivative products (as stated by KuCoin) | [ASIC (Australian financial services licence regime)](https://www.kucoin.com/en-au/broker) |
| Germany | KuCoin EU Exchange GmbH | Listed in the BaFin database as a cross-border MiCA provider (Art. 65 MiCAR), BaFin-ID 10164910; five services since 27 November 2025 | [BaFin (register entry; authorisation by Austria’s FMA)](https://portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=164910) |
| France | KuCoin EU Exchange GmbH | On the AMF white list of MiCA crypto-asset service providers, passported from Austria under the freedom to provide services (from 27 November 2025) | [Autorité des marchés financiers (AMF)](https://www.amf-france.org/fr/export/liste-blanche/73748/csv) |
| Brazil | KuCoin Brasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. | Transition regime of Resolution BCB 520/2025; KuCoin states (23 September 2026) it will apply for Central Bank authorisation within the deadline | [Banco Central do Brasil](https://www.kucoin.com/pt/support/48142946142386) |

## Status in the United States and the United Kingdom

- On 27 January 2025, the US Attorney's Office for the Southern District of New York announced that Peken Global Limited, the Seychelles-based operator of KuCoin, had pleaded guilty to operating an unlicensed money transmitting business. It agreed to pay more than $297 million and to keep KuCoin out of the US market for at least two years. [US Attorney’s Office, SDNY](https://www.justice.gov/usao-sdny/pr/kucoin-pleads-guilty-unlicensed-money-transmission-charge-and-agrees-pay-penalties)
- According to the same release, KuCoin never registered with FinCEN as a money transmitting business and did not require customers to provide identifying information until at least July 2023. [US Attorney’s Office, SDNY](https://www.justice.gov/usao-sdny/pr/kucoin-pleads-guilty-unlicensed-money-transmission-charge-and-agrees-pay-penalties)
- On 30 March 2026 the CFTC announced that a New York federal court had entered a consent order against Peken Global for letting US users trade on KuCoin without registering as a foreign board of trade: a permanent injunction and a $500,000 civil penalty. CFTC claims against three other KuCoin entities were dismissed. [CFTC, press release 9203-26](https://www.cftc.gov/PressRoom/PressReleases/9203-26)
- On 12 December 2023 the New York Attorney General settled a lawsuit with KuCoin for more than $22 million: more than $16.7 million in refunds to New York users and over $5.3 million to the state. KuCoin is barred from making its platform available to New Yorkers. [New York Attorney General](https://ag.ny.gov/press-release/2023/attorney-general-james-secures-more-22-million-cryptocurrency-platform-operating)
- A search of the FCA Financial Services Register on 29 October 2026 found no KuCoin group firm (Peken Global, KuCoin EU Exchange). In the UK, cryptoasset businesses must register with the FCA under the Money Laundering Regulations before offering in-scope services. [FCA: cryptoasset AML/CTF regime; FCA Register search](https://www.fca.org.uk/firms/financial-crime/money-laundering-terrorist-financing/cryptoassets-aml-ctf-regime)

Checked on 29 October 2026 against regulator registers and the text of the law.

## Proof of reserves as of 30 September 2026

| Asset | Reserve ratio |
|---|---|
| BTC | 109.0% |
| ETH | 117.0% |
| USDT | 110.0% |
| USDC | 127.0% |

Method: Merkle tree with user self-verification; user balances compared with assets in published on-chain wallet addresses. [↗](https://www.kucoin.com/proof-of-reserves)

## Security and audits

- KuCoin reports PCI DSS, ISO/IEC 27001:2022, ISO 22301:2019, ISO/IEC 42001:2023 and SOC 2 Type II certifications.
- KuCoin publishes Merkle-tree Proof of Reserves reports that users can check against their own balances; it says a Hacken-audited Proof of Reserves was completed in Q3 2025.
- On 26 September 2020 funds were taken from KuCoin's hot wallets after a private key leak; KuCoin said cold wallets were unaffected and losses would be covered by KuCoin and its insurance fund, set up in early 2018.
- In Q2 2025 KuCoin announced a $2 billion Trust Project for platform security and integrity.
- KuCoin reports ISO 27701 certification (Q3 2025) and CCSS certification (Q4 2025).

## Fees

| Parameter | Details |
|---|---|
| Spot maker | 0.10% at the base level for most pairs; some pairs differ |
| Spot taker | 0.10% at the base level for most pairs; some pairs differ |
| Discounts | Lower rates at higher VIP levels (up to 75% off) and when paying fees in KCS |
| Fee currency | Spot fees are taken in the quote currency of the pair (e.g. USDT for BTC/USDT) unless paying in KCS is enabled |
| Futures funding | Perpetual contracts pay or charge funding fees every eight hours; delivery contracts charge opening, closing and delivery fees |
| Delisted assets | After the withdrawal window, unsupported assets may be converted into stablecoins and a holding fee charged |

## Who can use it

- Verification: Identity verification (KYC) is required; according to the US DOJ it became mandatory in August 2023. Unverified accounts not logged into for a year may be closed.
- Not available to residents of the United States, Singapore, mainland China and Hong Kong, Malaysia, Kazakhstan, Uzbekistan, Ontario and British Columbia, France, the Netherlands, and Crimea, Donetsk, Luhansk, Zaporizhzhia and Kherson.

## History

| Date | Event |
|---|---|
| September 2017 | The KuCoin exchange is founded. |
| 26 September 2020 | Funds are taken from KuCoin's hot wallets; KuCoin says cold wallets are unaffected and users will be covered. |
| 22 June 2022 | Ontario's OSC announces a permanent market ban and a C$2,000,000 penalty against KuCoin operators Mek Global Limited and PhoenixFin Pte. Ltd. |
| 12 December 2023 | Settles with the New York Attorney General: refunds of more than $16.7 million to New York users, a $5.3 million payment and an exit from New York. |
| March 2024 | US prosecutors indict operator Peken Global Limited together with co-founders Chun (Michael) Gan and Ke (Eric) Tang. |
| 22 March 2024 | India's FIU-IND fines Peken Global Limited (KuCoin) Rs 34,50,000 under the anti-money-laundering law. |
| November 2024 | Japan's FSA lists KuCoin among unregistered firms warned for offering crypto-asset exchange services to Japanese residents. |
| 27 January 2025 | Operator Peken Global Limited pleads guilty in the US to operating an unlicensed money transmitting business; penalties total more than $297 million. |
| 28 July 2025 | Canada's FINTRAC imposes a C$19,552,000 penalty on Peken Global Limited; the company has appealed to the Federal Court. |
| 27 November 2025 | KuCoin EU Exchange GmbH is authorised under MiCA by Austria's FMA. |
| 30 March 2026 | The CFTC announces that a US federal court has entered a consent order barring Peken Global from letting US participants access KuCoin without registering as a foreign board of trade; penalty $500,000. |
| October 2026 | South Korea's media regulator decides, at the FIU's request, to block access to KuCoin's website in Korea. |

## Risks and caveats

- KuCoin's operator pleaded guilty in the US in January 2025 to running an unlicensed money transmitting business (forfeiture of $184.5 million, fine of about $112.9 million); a CFTC order followed in 2026.
- Regulators in Canada (OSC 2022, FINTRAC 2025, under appeal), New York (2023), India (FIU-IND 2024), Japan (FSA warning, 2024) and South Korea (FIU) have acted against KuCoin for serving local users without registration or AML compliance.
- Access can be cut off by IP-based geographic restrictions without prior notice, per the terms of use.
- The global platform is not available in the United States, Ontario, British Columbia, France, the Netherlands and other listed locations.
- The global terms of use are governed by the laws of the Turks and Caicos Islands, and disputes go to arbitration at the Singapore International Arbitration Centre.
- In Australia, derivative products are issued by Echuca Trading Pty Ltd, and investors are not entitled to ownership of the underlying assets.

## About the company

- **Legal entity**: Peken Global Limited (Seychelles per DOJ and FINTRAC; Turks and Caicos Islands per CFTC, 2026)
- **Legal entity**: Mek Global Limited (Seychelles) and PhoenixFin Pte. Ltd. (Singapore), named by Ontario's OSC in 2022 as KuCoin
- **Founded**: September 2017 (exchange launch)
- **Founders**: Chun (Michael) Gan and Ke (Eric) Tang; no longer in management under the 2025 US plea
- **CEO**: BC Wong (since Q1 2025)
- **Own token**: KuCoin Token (KCS)
- **Legal entity**: KuCoin EU Exchange GmbH, Vienna, Austria (EEA platform)
- **Legal entity**: KuCoin Brasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. (users in Brazil)

## Official links

- Website: [www.kucoin.com](https://www.kucoin.com/)
- Fees: [www.kucoin.com/support/360015188494](https://www.kucoin.com/support/360015188494)
- Proof of reserves: [www.kucoin.com/proof-of-reserves](https://www.kucoin.com/proof-of-reserves)
- Terms of use: [www.kucoin.com/legal/terms-of-use](https://www.kucoin.com/legal/terms-of-use)
- Security: [www.kucoin.com/security](https://www.kucoin.com/security)

## Questions and answers

**Is KuCoin regulated?**

In the EEA, KuCoin EU Exchange GmbH holds a MiCA authorisation from Austria's FMA. KuCoin also reports an AUSTRAC registration in Australia, and in April 2025 it described its Thailand partner exchange, run by ERX Company Limited, as licensed by Thailand's SEC; the global platform is run by Peken Global Limited.

**Does KuCoin publish proof of reserves?**

Yes. Its Merkle-tree report based on 30 September 2026 data shows reserve ratios of 109% for BTC, 117% for ETH, 110% for USDT and 127% for USDC.

**What are KuCoin's fees?**

Spot trading costs 0.10% maker and 0.10% taker at the base level for most pairs, with lower rates at higher VIP levels or when paying in KCS.

**Who runs KuCoin?**

KuCoin was co-founded by Chun (Michael) Gan and Ke (Eric) Tang, who left management under the 2025 US plea. The global platform is operated by Peken Global Limited, and BC Wong has been CEO since 2025. Shareholders are not disclosed.

**Is KuCoin available in the US?**

No. The terms list the United States as restricted; under its January 2025 guilty plea KuCoin agreed to exit the US market for at least two years, and a March 2026 CFTC consent order bars the operator from letting US participants trade without registering as a foreign board of trade.

**Is KuCoin available in the EU?**

KuCoin EU Exchange GmbH runs a separate platform for the EEA. Austria's FMA authorised it under MiCA on 27 November 2025, and it may provide services in 29 EEA countries (Austria plus 28 by passport), including France and the Netherlands, which the global platform's terms list as restricted.

**Has KuCoin been hacked?**

On 26 September 2020 funds were taken from KuCoin's hot wallets after a private key leak. KuCoin said cold wallets were unaffected and losses would be covered by KuCoin and its insurance fund.

**Is KuCoin registered in Japan or South Korea?**

Japan's FSA warned KuCoin in November 2024 for serving Japanese residents without registration, and KuCoin is not on the FSA register of crypto-asset exchange service providers (list as of 30 September 2026). South Korea's FIU referred KuCoin to investigators as an unregistered operator in 2022, and its website was blocked in Korea in October 2026.

## Sources

- [KuCoin — About Us](https://www.kucoin.com/about-us)
- [KuCoin — Terms of Use](https://www.kucoin.com/legal/terms-of-use)
- [KuCoin — Proof of Reserves](https://www.kucoin.com/proof-of-reserves)
- [KuCoin — How are fees calculated and charged (Help Center)](https://www.kucoin.com/support/360015188494)
- [KuCoin — VIP Benefits](https://www.kucoin.com/vip/privilege)
- [KuCoin Australia — Broker page (regulatory disclosure)](https://www.kucoin.com/en-au/broker)
- [KuCoin — Launch of KuCoin Thailand (24 April 2025)](https://www.kucoin.com/blog/kucoin-supports-the-official-launch-thailand)
- [KuCoin — Security incident update (26 September 2020)](https://www.kucoin.com/announcement/en-kucoin-security-incident-update)
- [KuCoin — CEO livestream recap on the security incident (26 September 2020)](https://www.kucoin.com/announcement/en-kucoin-ceo-livestream-recap-latest-updates-about-security-incident)
- [US Department of Justice (SDNY) — KuCoin pleads guilty, 27 January 2025](https://www.justice.gov/usao-sdny/pr/kucoin-pleads-guilty-unlicensed-money-transmission-charge-and-agrees-pay-penalties)
- [CFTC — Release 9203-26, permanent injunction against Peken Global Limited (30 March 2026)](https://www.cftc.gov/PressRoom/PressReleases/9203-26)
- [New York Attorney General — KuCoin settlement (12 December 2023)](https://ag.ny.gov/press-release/2023/attorney-general-james-secures-more-22-million-cryptocurrency-platform-operating)
- [Ontario Securities Commission — Enforcement outcomes against Bybit and KuCoin (22 June 2022)](https://www.osc.ca/en/news-events/news/osc-holds-global-crypto-asset-trading-platforms-accountable)
- [FINTRAC — Public notice of administrative monetary penalties](https://fintrac-canafe.canada.ca/pen/4-eng)
- [FIU-IND — Order No. 08/DIR/FIU-IND/2024, Peken Global Limited (22 March 2024)](https://fiuindia.gov.in/pdfs/judgements/PGL_Order_08_2024.pdf)
- [PIB — FIU-IND show cause notices to nine offshore VDA SPs (28 December 2023)](https://pib.gov.in/PressReleasePage.aspx?PRID=1991372)
- [Financial Services Commission (Korea) — FIU press release on blocking unregistered operators' websites (13 October 2026)](https://www.fsc.go.kr/no010101/87916)
- [ESMA — Interim MiCA register of crypto-asset service providers](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv)
- [KuCoin — Futures trading fees (Help Center)](https://www.kucoin.com/support/26686077277721)
- [KuCoin Brasil — Termos de Uso](https://www.kucoin.com/pt/support/48142946142386)
- [BaFin — Company database: KuCoin EU Exchange GmbH](https://portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=164910)
- [AMF — White list of crypto-asset service providers (CSV export)](https://www.amf-france.org/fr/export/liste-blanche/73748/csv)
- [FSA Japan — List of unregistered crypto-asset firms warned by the FSA](https://www.fsa.go.jp/policy/virtual_currency/angoushisan_mutouroku.xlsx)
- [KuCoin EU — EEA platform](https://www.kucoin.com/en-eu)
- [FCA: cryptoasset AML/CTF regime; FCA Register search](https://www.fca.org.uk/firms/financial-crime/money-laundering-terrorist-financing/cryptoassets-aml-ctf-regime)

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Page updated: 2026-10-29

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