OKX has officially reached a settlement with the U.S. Department of Justice

2025-02-25 07:55:37

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ChainCatcher news, according to OKX's official announcement, OKX's Seychelles subsidiary has reached a settlement today with the U.S. Department of Justice regarding an investigation, acknowledging that due to historical deficiencies in compliance controls, a small number of U.S. customers had traded on the company's global platform.

Under the settlement agreement, OKX has agreed to pay a fine of $84 million and to forfeit approximately $421 million in revenue obtained from U.S. customers during this period, most of which came from a small number of institutional clients.

In this settlement, there are no allegations of customer harm, no charges against any company employees, and no appointment of a government monitor. OKX stated that it will strengthen its Know Your Customer (KYC) system and Customer Risk Rating (CRR) system, expand its Enhanced Due Diligence (EDD) program, deploy industry-leading Anti-Money Laundering (AML) and sanctions tools, and has already formed a professional investigation team of over 150 members for this purpose.

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