Aux Cayes FinTech Co. Ltd, a subsidiary of OKX Exchange, has resolved a probe from the United States Department of Justice (DOJ). The firm reportedly paid $84 million in fees and agreed to a bigger asset forfeiture to settle the probe.
OKX US DOJ Probe Now One in Many
Notably, the investigation into the firm hinges on its operations as an unlicensed money transmitter in the U.S. Besides the $84 million fines, Aux Cayes also agreed to a $421 million fee forfeiture.
Before this settlement, OKCoin, the United States division of the trading platform, received a subpoena from the Commodity Futures Trading Commission (CFTC) on February 24, 2024. According to reports, the Subpoena detailed the activities of persons linked to the exchange engaging in fraud.
This settlement is one of the core crypto cases coming to an end under the Donald Trump administration. As reported earlier by CoinGape, the Securities and Exchange Commission (SEC) closed its case with Robinhood following a Wells Notice issue last year.
This is a developing story, please check back for updates!!!
The post Breaking: OKX Pays $84 Million to Settle US DOJ Probe appeared first on CoinGape.
