Securing Tomorrow: Our Blueprint for Compliance and Strong Crypto Market Growth

2024/05/23 10:00:00

Dear KuCoin Users and Supporters,

I write to you today in the spirit of open communication and transparency that is core to what KuCoin embraces and enshrines. With the industry witnessing several regulatory actions in the past few weeks, we thought we should reach out to our users, and share a few words of appreciation and assurance.

We are grateful for the warm words of support that has been shared by our users. In return, I want to assure you of KuCoin's commitment to be compliant in all jurisdictions we operate in and that our operation remains strong.

Looking back, striving forward

Since its inception, KuCoin has championed economic and societal inclusivity for all and the user-centric approach that crypto deserves. We've faced challenges head-on, emerging stronger with each hurdle, and earning the trust of both users and industry partners along the way. This commitment to user value is reflected in our recent Q1 2024 results, which showcase impressive growth:

  • Spot trading surged by a staggering 121.85%;
  • The MENA region saw a phenomenal growth of over 260%; and
  • Pre-market trading volume skyrocketed by 68%, reaching 23.12 million, along with a 47% increase in unique users

These figures paint a clear picture: our platform has been a dedicated and expanding user base. As a token of our immense gratitude for your continued support and trust, we recently implemented a series of airdrop programs, totaling up to US$ 28.95M. We will continue to strive to be the "People's Exchange."

Regulation: A Catalyst for Change

As any burgeoning industry matures throughout history, challenges in facing ongoing and ever changing regulatory frameworks are inevitable, and we believe these changes pave the way for achieving a more secure and sustainable crypto ecosystem – one that fosters innovation while protecting users.

KuCoin is a responsible player in this space. We keep abreast of global regulatory trends and have robust compliance arrangements in place. While we might have faced challenges along the way, we always embraced our responsibilities proactively. Our recent achievement of being the first global exchange to register with India's Financial Intelligence Unit is a testament to our commitment to working within legal frameworks.

The Future of Crypto and KuCoin's Role

We must not forget that the crypto industry is going through an exceptional time. We have observed that the industry is equipped with more emerging and evolving unique innovations. We have also seen a lot of new users among younger generations and emerging markets. The momentum is real and we want to ensure that KuCoin is there to connect users to new innovations and opportunities which are contributing to a blockchain-powered future.

To better support this trend, we are building ourselves inward and outward. Internally, we are continuing to enhance our security and compliance measures, working with the best industry players. For our users and communities, we have introduced KuCoin Campus, an offline expansion of KuCoin Learn, which had its inaugural University Roadshow to educate and inspire the youth to develop their skills and join the world of crypto. Through our venture arm, KuCoin Ventures, we’ve been supporting promising projects to develop their visions from scratch to reality. We have more featured educational programs in the pipeline to bring more interested users and partners on board to educate the masses about the burgeoning crypto world.

Building a Brighter Future, Together

Rest assured, our core values – user security, a thriving future for crypto, and the immense potential this technology holds – remain unshaken.

We are confident in the health of our financial reserves and we continue to maintain the highest security standards for your funds above all else. The future of crypto is undeniably bright, and the current regulatory landscape is a stepping stone, not a roadblock. Together, we can build a future where crypto thrives within a sustainable and secure framework.


Johnny Lyu CEO, KuCoin