Austrian Financial Market Authority Restricts KuCoin EU Operations

Regulatory Action Due to Staffing Shortages The Austrian Financial Market Authority (FMA) has announced restrictions on the operations of KuCoin EU, citing a lack of critical personnel responsible for anti-money laundering (AML), the prevention of terrorism financing, and compliance with financial sanctions.
According to the regulator, key positions required by law became vacant shortly after the company was granted its license.
The FMA emphasized that the effective staffing of these core functions is a mandatory prerequisite for the orderly conduct of business operations.
KuCoin EU Response Sabina Liu, General Manager of KuCoin EU, addressed the situation by stating that the vacant positions would be filled as part of a strategy to expand the compliance team in Austria.
Liu noted that the company's priority is to establish a governance framework that meets the expectations of European regulators, aiming for long-term stability through investment in local compliance experts.
Stricter Oversight Under MiCA Austria has become a significant hub for exchanges such as Bitpanda, Bybit, and Bitget seeking to enter the European market via the Markets in Crypto-Assets (MiCA) regulation.
The FMA's recent move signals a tightening of oversight in the region and a commitment to the uncompromising enforcement of requirements under MiCA and the Financial Markets Anti-Money Laundering Act (FM-GwG).