TITLE: United States Federal Court Enters Permanent Injunction Against Peken Global Limited for Unregistered Exchange Operations BODY: On March 30, 2026, the Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the Southern District of New York entered a consent order against Peken Global Limited, a company incorporated in the Turks and Caicos Islands that operates the KuCoin exchange. The order permanently enjoins Peken Global from allowing U.S. participants to access its electronic trading and order-matching system without registering with the CFTC as a foreign board of trade. Peken Global is required to pay a $500,000 civil monetary penalty. The court declined to impose disgorgement based on Peken Global's cooperation in the CFTC investigation and related proceedings, including the parallel criminal action *United States v. Flashdot Limited, et al.*, No. 24-cr-168 (S.D.N.Y). In the criminal matter, Peken Global pleaded guilty to operating an unlicensed money transmitting business and was subject to a forfeiture order. The consent order and accompanying order of voluntary dismissal with prejudice resolve all claims the CFTC brought against Peken Global and the dismissed defendants—Mek Global Limited, PhoenixFin PTE Ltd., and Flashdot Limited. The consent order also dismisses counts II through V of the CFTC complaint filed on March 26, 2024, against Peken Global. The enforcement action addresses the operation of cryptocurrency exchanges accessible to U.S. participants without proper CFTC registration and licensing. This development is significant for cryptocurrency market participants and exchanges offering services to U.S. customers, as it reinforces CFTC authority over foreign trading platforms facilitating U.S. participant access. **References:** Commodity Futures Trading Commission Press Release No. 9203-26

Federal Court Enters Permanent Injunction Against Peken Global Limited | CFTC

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