OKX Quietly Settled Regulatory 'Failings' With Malta Financial Services Authority
Summary
OKX, the second-largest cryptocurrency exchange, settled with the Malta Financial Services Authority (MFSA) for 304,000 euros ($329,000) due to "failings" associated with its Okcoin Europe subsidiary. The MFSA's investigation found issues related to Article 41 of the MFSA Virtual Financial Assets Act, which requires regulated financial services or digital asset firms to follow Maltese government directives. The settlement was reached after OKX demonstrated goodwill and agreed to measures including the appointment of an independent third-party service provider to review the company's governance arrangements. OKX is currently rebranding its Okcoin entities in Europe and the U.S. under the OKX banner.
