Austria halts new business for KuCoin's European arm

Austria's Financial Market Authority (FMA) has ordered cryptocurrency exchange KuCoin's European entity to halt all new business operations and customer sign-ups, CoinDesk reported. The move comes just months after the firm received its license under the European Union's Markets in Crypto-Assets (MiCA) regulation and follows the departure of key compliance personnel. According to the FMA, KuCoin EU currently has vacancies for key roles in its anti-money laundering (AML) and counter-terrorist financing departments. The regulator stated that the restrictions will remain in place until these compliance and reporting positions are filled.