KuCoin expands sanctions screening to 17 crypto platforms

KuCoin has implemented sanctions screening for indirect crypto transfers involving 17 platforms, including HTX linked to Justin Sun. As of August 27, the platforms affected include Shelbit, Aban Tether, A7 Nigeria, A7 Africa, PilotFinance, Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode, Exnode Pay, EXMO, and HTX. Users may experience held or rejected transactions even if they do not transact directly with these platforms. KuCoin will screen the source of funds and addresses for connections to the sanctioned entities. Transactions to these platforms may face enhanced review, and repeated violations could lead to service suspension. The sanctions align with recent US and European actions but extend beyond direct counterparties. HTX is notably impacted, facing similar restrictions from Binance since August 23. HTX disputes the sanctions and claims it is distinct from Huobi Global S.A. The exchange is in discussions with UK and EU authorities regarding frozen funds on third-party platforms, including Kraken. HTX has submitted materials related to 17 user freeze cases to the courts and aims to minimize customer disruptions. The exchange processed over 100,000 transactions in two days without new freeze cases and has upgraded its wallet infrastructure to enhance security.

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