Catenaa, Monday, October 13, 2025-KuCoin announced it has formally appealed a recent FINTRAC decision that upheld a Notice of Violation issued on March 31, 2025, along with a substantial monetary penalty.
The company maintains that it should not be classified as a Foreign Money Services Business under Canadian law and considers the fine excessive.
KuCoin has filed its appeal with the Federal Court of Canada, citing both substantive and procedural grounds.
CEO BC Wong emphasized that the move reflects KuCoin’s commitment to regulatory clarity and fair treatment for global digital asset platforms.
The appeal allows the company to formally challenge FINTRAC’s determination in a legal setting.
The exchange assured users that operations, asset security, and service quality will remain unaffected during the proceedings.
KuCoin reiterated its dedication to transparency, compliance, and safeguarding user funds while actively engaging with global regulators.
Founded in 2017, KuCoin serves over 40 million users across 200+ countries. The platform offers access to more than 1,000 digital assets and provides Web3 wallets, spot and futures trading, institutional services, and payment solutions.
Recognized by Forbes and Hurun, KuCoin holds SOC 2 Type II and ISO 27001:2022 certifications, highlighting its focus on security, compliance, and innovation.
The appeal represents a critical step in the company’s ongoing effort to define its regulatory standing and ensure equitable treatment for digital asset service providers worldwide.
