KuCoin Defies Legal Turmoil, Returns to Indian Play Store Amidst DOJ and CFTC Battles
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- KuCoin returns to Play Store in India despite DOJ charges, CFTC lawsuit over ETH trading.
- Daily volume drops from $2bn to $520mn post-lawsuit as market share halves to <3%.
- Outflows from KuCoin wallets exceed $600mn on March 26; users migrate to safer options.
The return of KuCoin to the Play Store in India despite recent legal issues marks a significant development for Indian crypto investors. Despite facing charges from the U.S. Department of Justice (DOJ) for violating anti-money laundering laws and a lawsuit from the U.S. CFTC over its ETH margin trading, KuCoin is making efforts to continue its operations.
𝗛𝘂𝗴𝗲 𝗡𝗲𝘄𝘀 𝗳𝗼𝗿 𝗜𝗻𝗱𝗶𝗮𝗻 𝗖𝗿𝘆𝗽𝘁𝗼 𝗨𝘀𝗲𝗿𝘀
— Wise Advice (@wiseadvicesumit) April 3, 2024#KuCoin is back on the Play Store after being the first FIU-complaint foreign #Crypto exchange in
India pic.twitter.com/OfCKhPzbe1
However, data from Kaiko shows that the impact of these charges has been substantial. Following the lawsuit announcements on March 26, KuCoin experienced a significant decrease in daily volume and market share. Daily volume dropped from around $2 billion …
The post KuCoin Defies Legal Turmoil, Returns to Indian Play Store Amidst DOJ and CFTC Battles appeared first on Coin Edition.
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