US CFTC charges Kucoin with operating illegal digital asset derivatives exchange

FILE PHOTO: Representation of cryptocurrency is seen in front of a Kucoin logo in this illustration taken on February 9, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

WASHINGTON (Reuters) - The U.S. Commodity Futures Trading Commission on Tuesday said it had charged cryptocurrency exchange Kucoin with operating an illegal digital asset derivatives exchange.

In a statement, the CFTC said Kucoin had solicited and accepted orders for commodity futures, swaps and other commodity transactions without registering with the commission.

(Reporting by Katharine Jackson and David Ljunggren)