OKX resolves the investigation of the Department of Justice and will lose $ 421m in fees won

• OKX declares itself guilty of the positions of the Department of Justice to operate a money transmission business without a license.
• Exchange must pay a fine of 84 million dollars and lose $ 421 million earned in American client commissions.
• The exchange accepts sanctions after an investigation by the Department of Justice.

The OKX cryptocurrency exchange platform will lose $ 421 million earned in customer commissions in the United States, advertisement The platform on February 24.

According to OKX, his subsidiary Aux Cayes Fintech Co. Ltd., had reached an agreement with the United States Department of Justice after investigation into the company’s operations.

OKX declared himself guilty of the charges to operate as a money transmission company without a license. Specifically, the OKX platform acknowledged that inherited compliance lagoons could have made several American clients operate on the global platform of the platform.

We Cooperated With The Us Dept of Justice in Their Thorough Investigation of Our Business. We had a small percantage of customers who were Uble to Use Our International Services Due to Historical Complence Gaps. Today Our Complence Controls Are Among The Leading in the … pic.twitter.com/sg1b2gc4we

– OKX (@okx) February 24, 2025

So, although the Department of Justice did not alleged any damage to customers or presented charges against OKX employees, the company agreed to resolve the issue by paying a fine and losing the commissions won.

“To solve the problem, the company agreed to pay a fine of 84 million dollars and renounce the commissions it obtained from these US clients during the period, which amounted to approximately 421 million dollars, most of which come from a few Institutional clients, ”he wrote the bag in an update.

OKX collaborated with the Department of Justice during the investigation and agreed with the resolution.

“The resolution marks a fundamental step in the continuous commitment of the company with excellence in compliance, a deeper regulatory collaboration and the integrity of the entire industry in line with the evolution of the cryptocurrency sector. This agreement reflects growth and positions OKX to continue working with regulators and developing solutions that benefit our clients and the market for cryptocurrencies in general, ”said the Exchange in the blog publication.

In his eagerness to improve compliance, transparency and safety of users, OKX affirms that he assumes “total responsibility for the deficiencies of the past.”

The company undertakes to provide a safe, compatible and reliable platform for its users, and these efforts are destined to help promote greater adoption of cryptocurrencies.

It should be noted that the OKX agreement with the Department of Justice occurs at a time when the cryptocurrency regulation panorama in the United States becomes increasingly favorable to cryptocurrencies.

In recent days, the Bag and Securities Commission, for example, has ended its investigations on Robinhood and Opensa.

The Coinbase cryptocurrency exchange platform also announced that the regulator had agreed to dismiss its demand against the company.