Cryptocurrency alternate OKX’s Aux Cayes FinTech Co. Ltd affiliate has settled with the U.S. Division of Justice, and has agreed to pay over $500 million price of penalties after pleading responsible to serving U.S. prospects with out a cash transmitter license and never following anti-money laundering legal guidelines.
OKX will criminally forfeit $420.3 million, in accordance with a DOJ assertion, and pay an $84.4 million legal high quality. The $420.3 million represents charges earned from U.S. prospects, which the agency stated are now not buying and selling on its platform. Officers stated that OKX allowed illicit transactions to flourish on its platform.
FBI Assistant Director in Cost James E. Dennehy stated: “For years, OKX flagrantly violated U.S. regulation, actively searching for prospects in the US—together with right here in New York—and even going as far as to advise people to offer false data to avoid requisite procedures.”
Editor’s word: This can be a breaking information story and will likely be up to date.
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