OKX’s operator admitted guilt on Monday to breaching US anti-money laundering laws and has agreed to pay nearly $505 million in fines and forfeited fees, as announced by the US Department of Justice.
Aux Cayes FinTech Co, a Seychelles-based company, pleaded guilty to operating an unlicensed money-transmitting business.
The plea was entered during a hearing before US District Judge Katherine Polk Failla in Manhattan, who imposed the sentence.
According to CoinMarketCap, OKX is the world’s fourth-largest cryptocurrency spot exchange, assessed based on traffic, liquidity, trading volumes, and confidence in the reported trading volumes’ legitimacy. It is outranked by Binance, Bybit, and Coinbase.
