OKX settles with US Department of Justice, pays over $500 million fine

On February 25th, according to CoinDesk, OKX reached a settlement with the US Department of Justice, paying over $500 million in fines and confiscating funds. The trading platform is under investigation for not obtaining a fund transfer license to operate in the United States, and its affiliated company Aux Cayes FinTech Co. Ltd. has reached an agreement with the US. According to sources, this settlement involves OKX's past non-compliance and fraud allegations. In addition, OKX's US subsidiary OKcoin received a CFTC subpoena on February 24 last year regarding an investigation into fraudulent activities in digital asset trading. OKX did not immediately respond to a request for comment on this news, and a CFTC spokesperson declined to comment.