KuCoin review
KuCoin is a centralized crypto exchange founded in 2017 in China by Chun "Michael" Gan, Ke "Eric" Tang and Johnny Lyu, later relocating through Hong Kong and Singapore to a Seychelles registration. It offers spot, margin and futures trading, staking/Earn products, trading bots and lending across several hundred assets, serving tens of millions of users outside the US. Its regulatory record is mixed: a December 2023 New York settlement, a January 2025 guilty plea and roughly $297 million US DOJ/FinCEN penalty for operating as an unlicensed money transmitter with AML failures, and the departure of founders Gan and Tang. In 2026 it drew further compliance action, with Austria prohibiting new business at its EU entity and Dubai's VARA ordering it to stop unlicensed operations there. CEO Johnny Lyu remains in place.
KuCoin key facts
- Website: www.kucoin.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: 2017, by Chun Gan, Ke Tang and Johnny Lyu
- Headquarters: Seychelles-registered; reportedly re-domiciled to Turks and Caicos in 2025
- Regulatory status: Not licensed for US operations (exited US market under a 2025 DOJ settlement); Austria barred new EU business in Feb 2026; Dubai's VARA issued a cease-and-desist in March 2026
- Products: Spot, margin and futures trading; KuCoin Earn staking; trading bots; lending
- Trading fees: Spot: 0.1% maker/taker standard, reducible via KCS holdings and volume tiers; futures from about 0.02% maker / 0.06% taker
- Supported assets: 700+ cryptocurrencies
- Notable regulatory history: Jan 2025: guilty plea, ~$297M combined DOJ forfeiture/fine; founders Gan and Tang departed and personally forfeited $2.7M each
- CEO: Johnny Lyu
- FYI Score: 88.1/100 (ranked #8 of the 48 crypto exchanges we track)
Trading fees
- Standard 0.1% maker/taker spot fee, in line with several large-exchange peers
- Discounts for holding or paying with the native KCS token, plus 30-day volume-based VIP tiers
- Futures fees start lower, around 0.02% maker and 0.06% taker, improving at higher tiers
Supported assets
- 700+ cryptocurrencies listed, with particular depth in emerging and DeFi tokens
- Spot pairs numbering in the hundreds; futures offered on a smaller subset of major and mid-cap assets
Products
- Spot and margin trading with cross and isolated modes
- Perpetual futures contracts
- KuCoin Earn for staking and yield products, plus automated trading bots and a lending market
Security & regulation
- January 2025: KuCoin-linked entities pleaded guilty to operating an unlicensed US money-transmitting business; paid roughly $297M combined in forfeiture and fines and agreed to exit the US market for at least two years
- December 2023: settled with the New York Attorney General for $22M and ceased trading operations in New York, over unregistered securities/commodities-broker claims
- February 2026: Austria's financial regulator prohibited KuCoin's EU entity (KuCoin EU Exchange GmbH) from onboarding new business over AML/CTF compliance failures
- March 2026: Dubai's VARA publicly stated KuCoin-linked entities were operating without the required Dubai virtual-asset licence and ordered them to cease serving Dubai residents
- Says it has committed to $2 billion in security and compliance spending between 2026 and 2028; holds SOC 2 Type II and ISO 27001 certifications and publishes proof-of-reserves data
Fiat & payments
- Card purchases and third-party payment-processor on-ramps in supported regions
- P2P trading marketplace supporting a range of local payment methods
- No direct US-dollar banking rails, consistent with its exit from the US market
Markets
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Who KuCoin is for
KuCoin's wide altcoin selection and standard fee structure appeal to active traders chasing emerging tokens, but it is not available to US residents, and users in the EU or Dubai should check current local status given 2026 enforcement actions in both regions before depositing funds.
Pros
- Very broad asset selection (700+ cryptocurrencies), particularly strong for emerging and DeFi tokens
- Standard 0.1% spot fee with further discounts via KCS holdings and volume, competitive against major peers
- Large global user base (tens of millions) and long operating history since 2017
- SOC 2 Type II / ISO 27001 certifications and a public proof-of-reserves programme
Cons
- January 2025 guilty plea and ~$297M US penalty for operating as an unlicensed money transmitter and failing to implement AML/KYC controls; founders Gan and Tang departed the company as part of the settlement
- Barred from serving US customers for at least two years following the settlement, after previously serving roughly 1.5 million US users without registration
- Faced a separate December 2023 New York Attorney General settlement ($22M) and had to stop New York operations
- In 2026, drew fresh regulatory action in two more jurisdictions: an Austrian ban on new EU business and a Dubai VARA cease-and-desist for unlicensed operations — indicating compliance gaps persisted after the US settlement
KuCoin FAQ
Is KuCoin regulated?
Only partially, and its record is mixed. KuCoin pleaded guilty in January 2025 to US charges of operating an unlicensed money-transmitting business, paying roughly $297M in penalties and exiting the US market for at least two years. In 2026, Austria's regulator barred its EU entity from taking on new business, and Dubai's VARA ordered KuCoin-linked entities to stop serving Dubai residents without a licence. It holds SOC 2 and ISO 27001 security certifications, which are operational, not regulatory, credentials.
Is KuCoin available in the US?
No. As part of its January 2025 settlement with the US DOJ and FinCEN, KuCoin agreed to exit the US market for a minimum of two years, having previously served roughly 1.5 million US users without proper registration.
What happened with KuCoin's DOJ settlement?
In January 2025, KuCoin entities pleaded guilty to operating an unlicensed money-transmitting business and failing to implement required anti-money-laundering and know-your-customer programs. The company paid roughly $297 million combined in criminal forfeiture and fines, founders Chun Gan and Ke Tang departed and personally forfeited $2.7 million each, and KuCoin agreed to exit the US market for at least two years. Co-founder and CEO Johnny Lyu remains with the company.
What are KuCoin's trading fees?
Standard spot trading fees are 0.1% for both maker and taker orders, reducible through holding or paying with the KCS token and through 30-day volume-based VIP tiers. Futures fees start lower, around 0.02% maker and 0.06% taker at entry level.
Compare KuCoin with other crypto exchanges
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