PANews reported on April 22 that according to Cointelegraph, a planned settlement agreement between the U.S. Commodity Futures Trading Commission (CFTC) and crypto exchange Kucoin might be delayed due to the CFTC's policy adjustment under the Trump administration, which no longer prioritizes cases against crypto companies. CFTC lawyer John Murphy submitted a letter to District Judge Valerie Capron on April 21, requesting more time to seek approval for an agreement reached under the Biden administration. "It seems unlikely to obtain such authorization in the near term," he said, referring to a recent statement by Acting CFTC Chair Caroline Pham that the agency's enforcement division would no longer prioritize cases against crypto companies.
Kucoin reached a $297 million settlement with the Department of Justice in January and agreed to exit the U.S. market for at least two years. In March, Kucoin requested a 14-day extension from the judge to negotiate further based on the Trump administration's executive order restricting enforcement actions against the digital asset industry. However, this request was rejected, and the judge demanded updates on negotiation progress.
