OKX Agrees to $505 Million Settlement Over U.S. Regulatory Violations

The crypto exchange admitted to operating without a money transmitter license and facilitating $5 billion in suspicious transactions.

OKX has settled with the U.S. Department of Justice, agreeing to pay $505 million in penalties and forfeitures for regulatory violations.
The settlement addressed allegations that OKX operated as an unlicensed money transmitter and failed to comply with anti-money laundering laws.
The DOJ investigation revealed that OKX facilitated over $5 billion in suspicious transactions and allowed U.S. customers to trade on its global platform despite compliance gaps.
As part of the settlement, OKX will employ an external compliance consultant until 2027 and has pledged to strengthen its global compliance measures.
OKX emphasized that U.S. customers represented a small percentage of its user base, and no customer harm or charges against employees were alleged.