[KuCoin Pays $500,000 to U.S. CFTC to Settle Civil Lawsuit] According to Bloomberg, cryptocurrency exchange operator Peken Global, which runs KuCoin, has agreed to pay $500,000 to settle a civil lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC). The CFTC accused KuCoin of operating as an unregistered offshore platform and illegally allowing U.S. residents to trade. KuCoin reached the settlement without admitting or denying the allegations and is prohibited from allowing U.S. customers to access the platform without registering with the CFTC. The CFTC stated that U.S. customers generated approximately $110 million in trading fees for KuCoin. Considering the company's cooperation and forfeitures in parallel criminal cases, the CFTC did not seek to recover illicit gains.