KuCoin exchange gets strong warning from DNB Bank


The National Bank of Netherlands (DNB) warns against the company MEK Global Limited (MGL), based in the Seychelles, better known as ‘KuCoin’. It offers crypto services in the Netherlands without legal registration with DNB.

That means MGL is acting in violation of the Prevention of money laundering and Terrorist Financing Act and illegally offering services for exchanging virtual currency and fiduciary currency and offering custody wallets.

MGL customers are not in violation. But they may be at increased risk of being involved in money laundering or terrorist financing.

By: Peretz M.

Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.

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