PANews reported on April 22 that according to Cointelegraph, a planned settlement agreement between the U.S. Commodity Futures Trading Commission (CFTC) and the crypto exchange KuCoin may be delayed due to the CFTC's policy adjustment under the Trump administration and no longer prioritizing 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 the agreement reached under the Biden administration. "It seems unlikely that such authorization will be obtained in the near future," he said, referring to a recent statement by Acting CFTC Chairman Caroline Pham that the agency's law enforcement department will 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 asked the judge for a 14-day extension to allow for further negotiations under Trump's executive order limiting law enforcement actions against the digital asset industry. However, the request was rejected and the judge asked for an update on the progress of the negotiations.