KuCoin, operated by Peken Global, has agreed to pay $500,000 to settle a civil lawsuit with the U.S. Commodity Futures Trading Commission (CFTC). The lawsuit accused KuCoin of operating as an unregistered offshore platform, allowing U.S. residents to trade illegally. While KuCoin did not admit or deny the allegations, it is now prohibited from providing services to U.S. customers without CFTC registration. The CFTC highlighted that U.S. customers contributed approximately $110 million in trading fees to KuCoin. However, due to KuCoin's cooperation and forfeitures in related criminal cases, the CFTC chose not to pursue recovery of these gains.