OKX, a Seychelles-based cryptocurrency exchange, has officially re-entered the U.S. market following a significant legal settlement with the Department of Justice. The company has established a regional headquarters in San Jose, California and appointed Roshan Robert as its U.S. CEO.
Regulatory Challenges and Settlement
OKX’s return comes after a $500 million settlement with the DOJ, where the exchange pleaded guilty to operating an unlicensed money-transmitting business. The DOJ alleged that OKX had failed to implement adequate anti-money laundering measures and had improperly solicited U.S. customers despite lacking proper registration. As part of the agreement, OKX will fund an external compliance consultant through February 2027.
New Compliance Measures
To ensure regulatory compliance, OKX has introduced a new compliance program aimed at strengthening its risk management infrastructure. The company has also revamped its technology interface and trading platform for American users.
OKX is launching a new crypto wallet for U.S. users, allowing them to store and trade cryptocurrencies. Additionally, users of OKCoin, a sister company of OKX, will be migrated to the newly launched OKX platform, which promises.
Shogun Lin
