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Leading international cryptocurrency platform KuCoin, founded on trust, today announced that it has filed a formal appeal against a recent ruling by the Director of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which upheld a Notice of Violation and a hefty fine imposed on March 31, 2025.
Although the business respects regulatory compliance, KuCoin is vehemently opposed to the penalty and the findings. According to the exchange, the fine is harsh and disproportionate, and it should not be categorized as a foreign money services business under Canadian law.
Citing both substantive and procedural concerns, KuCoin has appealed the verdict before the Federal Court of Canada in accordance with its statutory right.
“KuCoin has always strived to work constructively with regulators worldwide,” said BC Wong, CEO of KuCoin. “We disagree with this decision on both substantive and procedural grounds, and we have pursued all available legal avenues to ensure a fair outcome for KuCoin. As always, we remain fully committed to transparent operations and compliance with all applicable laws.”
 
KuCoin has the chance to contest the decision in a formal legal context through the appeals process. The business views this as a crucial step in securing equitable treatment for international digital asset platforms and achieving regulatory certainty.
Throughout the legal procedures, KuCoin emphasized that its commitment to user security, transparency, and service remains unchanged. The business will continue to protect user assets, comply with all relevant legal requirements, and keep its community updated on developments.