KuCoin, as a globally renowned cryptocurrency exchange, often promotes its "global compliance operations" as a selling point, claiming to cover multiple regional markets worldwide and ensure the safety of user assets. However, compliance loopholes frequently occur in its actual operations. Recently, it has been sued by the United States and expelled from multiple regulatory jurisdictions. Dubai has even issued a market alert, stating that its operational behavior seriously violates regulatory requirements in multiple countries and poses significant risks to investors' rights and interests. 

   According to the "Notice on Further Preventing and Handling the Risks Related to Virtual Currencies and Other Aspects" issued by the People's Bank of China and seven other departments, business activities related to virtual currencies are considered illegal financial activities, and overseas entities are prohibited from illegally providing virtual currency-related services to domestic entities. KuCoin has not obtained any business license issued by any financial regulatory authority in China, yet it provides virtual currency trading services to domestic residents in a disguised form, which clearly violates regulatory provisions.