One of world’s largest cryptocurrency exchanges agreed to pay more than $500 million in penalties and plead guilty to anti-money laundering (AML) and Know Your Customer (KYC) violations, along with failing to register as a money transmitting business with the U.S. Treasury, the Department of Justice (DOJ) said.
Aux Cayes Fintech Co., a crypto platform doing business as OKX, allows registered users to place orders for spot trades in over three hundred cryptocurrencies, including Bitcoin and Ethereum, the U.S. Attorney’s Office for the Southern District of New York (SDNY) said in a press release Monday. OKX users can also place orders for derivative products, including futures contracts, tied to the value of Bitcoin and other crypto.
