AUX Cayes Fintech Co. Ltd. OKX, to an agreement with the US Department of Justice (doj) to close the investigation regarding the failure to register as a fund.
The event, which led to a penalty of $ 84 million, represents an important step in the compliance strategy of the encryption platform.
The context of an investigation into the United States of America on OKX
the investigation Focus on the alleged gaps in compliance protocols, which would have allowed a limited number of American users to work on the global OKX platform.
However, no fees were directed against the company’s employees, and no damage was found for users. The total amount of revenue from these customers in the United States of America is about $ 421 million, most of which are institutional agents.
To solve the problem, Aux Cayes Finetech agreed to pay a penalty of $ 84 million and confiscate the profits obtained from American customers during the period under review. The company also strengthened compliance controls, as it started cooperation with industrial experts to prevent similar problems in the future.
OKX approach to compliance
OKX has always claimed that it works according to local and international regulations. The company stated that after the discovery of these gaps, measures were independently taken to enhance compliance protocols. Among the initiatives implemented:
- Enhanced customer knowledge program (KYC) Classification of customer risk (CR) to make a more effective assessment of customer -related risks.
- Expand the improved due care program (EDD) To alleviate any high -risk factors.
- Adopting advanced compliance tools for money laundering (AML)With real -time transaction monitoring systems.
- Implementation of geological and geographical tracking technology To prevent fraudulent activities.
- Establishing a team dedicated to security and combating financial crimesIt consists of more than 150 experts who have experience in organizational and law enforcement.
Relationship with SEC and future prospects
The Ministry of Justice does not include the Securities and Stock Exchange Committee (SEC), but the AUX Cays Finetech case highlights the increasing attention of the American authorities towards encryption platforms.
OKX, like many other companies in this sector, is subject to a constantly developed organizational scene in the United States of America, where the authorities are intensifying the scrutiny of global platforms.
Looking at the future, OKX continues to enhance its commitment to transparency and organizational compliance. The company places itself as a leader in encryption security, which enhances innovative solutions to ensure compliance with international regulations.
The AUX Cay Fintech case is an opportunity for OKX to enhance its reputation, reliable and compatible with international standards.
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conclusion
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The AUX Cays Fintech case explains the importance of compliance in the encryption sector, especially for companies working on a global scale.
OKX responded with concrete measures to enhance its organizational framework, and avoid future issues with the American authorities.
Cooperation with the Ministry of Justice and the adoption of new compliance strategies affirms the company’s intention to continue to work in a transparent and safe manner for its users at the international level.
