Oh, the scandal! Aux Cayes FinTech Co. Ltd, the operator of the cryptocurrency exchange OKX, has pleaded guilty to operating an unlicensed money-transmitting business in violation of US Anti-Money Laundering laws. 💰💸
The dashing OKX has agreed to pay over $500 million worth of penalties to resolve the matter. The US Department of Justice conducted an investigation, and OKX paid $84 million worth of penalties while forfeiting $421 million worth of fees earned from mostly institutional clients. 🕵️♂️💼
“The Company acknowledged that, as a result of legacy compliance gaps, certain U.S. customers had in the past traded on the company’s global platform,” OKX said in a Feb. 24 statement. 😱📝
OKX assured that the number of US clients involved amounted to a small percentage of the crypto exchange’s total customer base and that none of these customers remain on its platform. 🤐👥
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2025-02-25 01:30