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Coinpaprika 2025-02-25 07:56:41

OKX Settles with DoJ, Pays $500M for Compliance Violations

OKX has reached a settlement with the U.S. Department of Justice ( DoJ ) , agreeing to pay over $500 million after pleading guilty to compliance violations. The exchange admitted that some U.S. users accessed its services without proper licensing, closing a long-running investigation. OKX framed the situation as a past oversight, emphasizing that it now maintains industry-leading compliance standards. The company stated that cooperation with regulators was a priority and that this matter is now behind them. As part of the agreement, OKX will pay a fine and forfeit user fees , ensuring it meets regulatory expectations. Despite the settlement, the DoJ's stance on crypto remains strict , with officials describing OKX’s past actions as “flagrant violations” and “blatant disregard.” While other agencies, like the SEC , have recently dropped lawsuits against Coinbase and OpenSea, the DoJ continues to enforce penalties on major exchanges. For OKX, the settlement is a costly but strategic move. With strong financial reserves and billions in annual revenue, the exchange can absorb the penalty while improving its regulatory standing. Paying the fine allows OKX to move forward and work toward compliance in the U.S. market .

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