{"id":127285,"date":"2025-04-16T10:16:20","date_gmt":"2025-04-16T10:16:20","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127285"},"modified":"2025-04-16T10:16:20","modified_gmt":"2025-04-16T10:16:20","slug":"okx-reenters-us-market-following-505m-doj-settlement","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127285","title":{"rendered":"OKX reenters US market following $505M DOJ settlement"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSeychelles-based cryptocurrency exchange OKX announced that it is reentering the US market.<br \/>\nAccording to an April 16 blog post, OKX will return to the United States market along with the appointment of former Barclays director Roshan Robert as its US CEO. Robert said in the post:<br \/>\n\u201cToday, I\u2019m thrilled to announce the launch of OKX\u2019s centralized crypto exchange and OKX Wallet in the United States, alongside the establishment of our regional headquarters in San Jose, California.\u201c<br \/>\nAll existing Okcoin users will be migrated to the new platform, which Robert said will lead to a better overall experience. The promised improvements include deeper liquidity, lower fees and advanced trading tools.<br \/>\nSource: OKXRelated: Standard Chartered and OKX pilot crypto, tokenized fund collaterals<br \/>\nStep by step<br \/>\nOKX will not roll out the upgrade in one shot. Instead, the new platform will take a phased approach to onboard new customers. The exchange plans to follow the cautious approach with a nationwide launch later in 2025.<br \/>\n\u201cWe\u2019re beginning with a phased rollout for new customers to ensure a smooth and secure onboarding process, with a broader nationwide launch planned later this year,\u201c Robert said.<br \/>\nOKX also promised integrations with local banks and support for major assets, including Bitcoin (BTC), Ether (ETH), USDt (USDT) and USDC (USDC). Robert noted that the company maintains a global proof of reserves for all its assets, which is published monthly by cybersecurity firm Hacken.<br \/>\nHacken had not responded to Cointelegraph\u2019s request for comment by publication time.<br \/>\nIn addition to its trading platform, the firm is also rolling out OKX Wallet to its US-based customers. The wallet supports 130 blockchains and features a decentralized exchange (DEX) aggregator, allowing access to over 10 million tokens on platforms including Ethereum, Solana and Base.<br \/>\nRelated: Malta regulator fines OKX crypto exchange $1.2M for past AML breaches<br \/>\nOKX gets out of US troubles<br \/>\nThe report follows OKX hiring former New York Governor Andrew Cuomo to advise it over a federal probe that resulted in the firm pleading guilty to several violations and agreeing to pay $505 million in fines and penalties.<br \/>\nThe exchange admitted on Feb. 24 to operating an unlicensed money-transmitting business in violation of US Anti-Money Laundering laws. As a consequence, OKX agreed to pay $84 million worth of penalties while forfeiting $421 million worth of fees earned from primarily\u00a0institutional clients.<br \/>\nAfter the investigation concluded, OKX said it would seek out a\u00a0compliance consultant\u00a0to remedy the problems revealed by the federal probe and improve its compliance efforts. OKX\u2019s CEO Star Xu wrote in a Feb. 24 X post:<br \/>\n\u201cOur vision is to make OKX the gold standard of global compliance at scale across different markets and their respective regulatory bodies.\u201d<br \/>\nOKX had not responded to Cointelegraph\u2019s request for comment by publication time<br \/>\nMagazine: XRP win leaves Ripple and industry with no crypto legal precedent set<a href=\"https:\/\/cointelegraph.com\/news\/okx-enters-the-united-states-market-following-505-m-settlement?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSeychelles-based cryptocurrency exchange OKX announced that it is reentering the US market. According to an April 16 blog post, OKX will return to the United States market along&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127285"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127285"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127285\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127285"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}