OKX crypto exchange operator enters US$505 million guilty plea, US says
The operator of the OKX cryptocurrency exchange pleaded guilty on Monday to violating US anti-money-laundering laws and will pay nearly US$505 million in fines and forfeited fees, the US Department of Justice said.
Aux Cayes FinTech, a Seychelles-based entity, admitted to one count of operating an unlicensed money transmitting business. It entered its plea at a hearing before US District Judge Katherine Polk Failla in Manhattan, who imposed the sentence.
OKX is the world’s fourth-ranked cryptocurrency spot exchange based on traffic, liquidity, trading volumes, and confidence in the legitimacy of reported trading volumes, according to CoinMarketCap. Binance, Bybit and Coinbase rank higher.
Prosecutors said that from 2018 through early…
