FMA prohibits KuCoin EU Exchange GmbH from conducting new business due to breaches of obligations in relation to internal organisation in relation to prevention of money laundering and terrorist financing as well as observance of financial sanctions. - FMA Österreich

https://www.fma.gv.at/en/fma-prohibits-kucoin-eu-exchange-gmbh-from-conducting-new-business/
Success
Service Crypto-Assets 92% Anti-Money Laundering 85%
Specialism Enforcement - Restrictive Order 92% Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) 88%
2026-02-20 09:38:32 · adavies@vixio.com
ID
2890878
GUID
9d4864d29630b6b1509c5a91e819b277

Classification

Service
Crypto-Assets (92%)

KuCoin EU Exchange GmbH is a crypto-asset service provider authorized under MiCAR, and the FMA enforcement action directly prohibits it from conducting new business due to regulatory breaches in AML, sanctions compliance, and internal organization.

Anti-Money Laundering (85%)

The enforcement action involves breaches of AML and sanctions obligations, which are core anti-money laundering compliance requirements applicable to crypto-asset service providers under EU regulation.

Specialism
Enforcement - Restrictive Order (92%)

The FMA issued a formal administrative decision prohibiting KuCoin from conducting new business due to identified regulatory breaches, which constitutes a restrictive order limiting specific activities without full licence revocation.

Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) (88%)

The prohibition was explicitly triggered by breaches of AML/CTF obligations (lack of AML Officers and Sanctions Compliance Officers) and failure to observe financial sanctions, making AML/CTF the underlying subject matter.

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TITLE: Austria's Financial Market Authority Prohibits KuCoin EU Exchange from Conducting New Business BODY: On February 19, 2026, the Austrian Financial Market Authority (FMA) issued an administrative decision prohibiting KuCoin EU Exchange GmbH from conducting new business due to breaches of obligations relating to internal organisation, prevention of money laundering and terrorist financing, and observance of financial sanctions. The FMA determined that KuCoin EU Exchange GmbH, registered at Am Grünen Prater 2, 1020 Vienna, no longer has suitable key function holders in critical compliance roles. Specifically, the entity lacks appropriately staffed Anti-Money Laundering Officers (including deputies) and Sanctions Compliance Officers (including deputies), which are mandatory requirements under the EU Regulation on Markets in Crypto-Assets (MiCAR) and Austria's Financial Markets Anti-Money Laundering Act (FM-GwG). The FMA had authorised KuCoin EU Exchange GmbH as a crypto-asset service provider on November 27, 2025, at which time these key functions were appropriately filled. However, the FMA determined this is no longer the case. The prohibition on conducting new business takes immediate effect and prevents KuCoin EU Exchange GmbH from concluding business relationships with new customers and from concluding new contracts or introducing new products within existing business relationships. The FMA has instructed the entity to establish legal compliance without delay by appropriately filling these key functions. The effective staffing of these positions is identified as a prerequisite for orderly business conduct. The administrative decision is not legally final and remains subject to appeal. KuCoin EU Exchange GmbH must rectify the staffing deficiencies to resume new business operations.
  • ✓ Scraped:2026-02-20 09:38:32
  • ✓ Created:2026-02-20 09:38:31
  • ✓ By:adavies@vixio.com (41)