atlas21 on Nostr: 🚨 OKX pays $504 million for anti-money laundering violations: settlement with the ...
🚨 OKX pays $504 million for anti-money laundering violations: settlement with the U.S. DOJ
The U.S. Department of Justice has reached a settlement with OKX affiliate, Aux Cayes FinTech Co. Ltd., for over $500 million. The settlement includes a $84.4 million fine and the confiscation of $420.3 million in commissions earned from U.S. clients.
According to the DOJ, OKX ignored federal regulations for years, facilitating suspicious transactions exceeding $5 billion. The exchange also operated as an unlicensed Money Service Business, violating U.S. laws and actively seeking clients in the U.S.
Following the plea deal, OKX stated that it has taken steps to improve compliance and that the involved U.S. clients are no longer on the platform.
Atlas21's article. ⬇️
https://atlas21.com/okx-504-million-settlement-with-the-u-s-department-of-justice/
The U.S. Department of Justice has reached a settlement with OKX affiliate, Aux Cayes FinTech Co. Ltd., for over $500 million. The settlement includes a $84.4 million fine and the confiscation of $420.3 million in commissions earned from U.S. clients.
According to the DOJ, OKX ignored federal regulations for years, facilitating suspicious transactions exceeding $5 billion. The exchange also operated as an unlicensed Money Service Business, violating U.S. laws and actively seeking clients in the U.S.
Following the plea deal, OKX stated that it has taken steps to improve compliance and that the involved U.S. clients are no longer on the platform.
Atlas21's article. ⬇️
https://atlas21.com/okx-504-million-settlement-with-the-u-s-department-of-justice/