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OKX Resolves DOJ Investigation, Forfeits $421M in Earned Fees
In a significant development, cryptocurrency exchange OKX has resolved a Department of Justice (DOJ) investigation by agreeing to forfeit approximately $421 million in earned fees. This move marks a pivotal step in the company’s ongoing commitment to compliance excellence, deeper regulatory collaboration, and industry-wide integrity.
As part of its efforts to enhance transparency and user security, OKX acknowledges taking “full accountability for past shortcomings.” The exchange emphasizes its dedication to providing a safe, compliant, and trusted platform for its users, ultimately aiming to promote further crypto adoption.
The settlement with the DOJ comes amid an increasingly pro-crypto regulatory landscape in the US. In recent developments, the Securities and Exchange Commission (SEC) has ended its investigations into Robinhood and Opensea, while Coinbase announced that the regulator had agreed to dismiss its lawsuit against the company.
OKX’s decision to forfeit substantial fees underscores its commitment to collaboration with regulators and development of solutions that benefit users and the broader crypto market.
Source: https://coinjournal.net/news/okx-resolves-doj-investigation-to-forfeit-421m-in-earned-fees/
