OKX Faces Fines and Lawsuits: Latest Regulatory Scrutiny for Cryptocurrency Exchange

Facing mounting legal pressure, the leading cryptocurrency exchange, OKX, has been hit with a hefty $1.2 million fine by Malta’s financial regulator following a detailed investigation into AML compliance failures. This action follows a recent lawsuit filed in Thailand alleging that OKX operated without the required licenses. 🔎 The Financial Intelligence Analysis Unit (FIAU) found significant shortcomings across customer verification, transaction monitoring, and overall compliance practices during its review of the firm’s European branch.