OKX to Pay $500M+ for Unlicensed Operations, DOJ Charges

Cryptocurrency exchange OKX has agreed to pay over $500 million in penalties after pleading guilty to operating an unlicensed money-transmitting business in the United States. The U.S. Department of Justice (DOJ) and Federal Bureau of Investigation (FBI) accused OKX of targeting American customers while failing to comply with federal anti-money laundering (AML) laws, despite a ban on U.S. users.