TechFlow News — According to an official announcement from OKX, its Seychelles subsidiary has today reached a settlement with the U.S. Department of Justice regarding an investigation. The company acknowledged that, due to past deficiencies in compliance controls, a small number of U.S. customers had previously traded on its global platform.
Under the settlement agreement, OKX has agreed to pay an $84 million penalty and to disgorge approximately $421 million in revenue earned from U.S. customers during the relevant period, most of which came from a limited number of institutional clients.
The settlement includes no allegations of customer harm, no charges against any company employees, and does not require the appointment of a government monitor.
OKX stated it will strengthen its Know-Your-Customer (KYC) framework and Customer Risk Rating (CRR) system, expand its Enhanced Due Diligence (EDD) program, deploy industry-leading anti-money laundering (AML) and sanctions compliance tools, and has already established a professional investigation team comprising over 150 members.
