The United States Government has brought charges against cryptocurrency exchange KuCoin and its founders, Chun Gan and Ke Tang, for alleged criminal activity.

The charges include violations related to money transmission and Bank Secrecy Act breaches, with authorities citing involvement in a "multibillion-dollar criminal conspiracy."

According to a press release from the United States Southern District of New York, the indictment accuses Gan and Tang of playing a role in the purported illegal activities.

Damian Willians, the US Attorney of the Southern District of New York, and Darren McCormack, head of Homeland Security Investigations New York Field Office, announced the indictment.

The document, recently unsealed, alleges that KuCoin violated US anti-money laundering laws while expanding to become one of the world's largest cryptocurrency exchanges. Attorney Williams stated that KuCoin intentionally obscured the number of US users on its platform.

Furthermore, the indictment claims that KuCoin capitalized on its significant US customer base to achieve its status as one of the largest exchanges globally, referring to this progression as a "criminal conspiracy."