Austrian Watchdog Freezes KuCoin EU’s Client Onboarding

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KuCoin’s European operations have been dealt a setback after Austria’s top financial supervisor, the Austrian Financial Market Authority, ordered the exchange to stop engaging in new business activities over compliance deficiencies.

The measure prevents the Vienna-headquartered platform from signing up new customers or launching new contractual arrangements — even within existing client relationships — until mandated AML and sanctions control functions are adequately staffed.

KuCoin EU managing director Sabina Liu confirmed that two key compliance staff overseeing AML and sanctions obligations in Austria had recently departed. She noted that workforce movement of this kind is not unusual in tightly regulated industries.

Liu emphasized that the firm had proactively started hiring replacements before the supervisory action and had chosen to pause onboarding and some trading features voluntarily. She maintained that the regulatory intervention is contained and unlikely to disrupt KuCoin’s long-term European strategy.