Top Highlights
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Reopening of U.S. Exchange: OKX is set to relaunch its U.S. crypto exchange and introduce a new Web3 wallet specifically for American users, following a significant $505 million settlement with the U.S. Department of Justice.
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Leadership Appointment: Roshan Robert, a former Barclays executive, has been named U.S. CEO, leading the company’s expansion while emphasizing secure and compliant access to digital assets.
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Phased Rollout: The transition to the OKX platform will start with current OKCoin users, offering them lower fees, advanced trading tools, and access to major cryptocurrencies, with a full nationwide launch planned for later this year.
- Regulatory Compliance: In response to DOJ findings of prior violations, OKX has implemented a robust compliance framework, including KYC protocols and fraud detection measures, after paying significant penalties and forfeiting fees for past misconduct.
OKX Returns to U.S. Market Following $505M DOJ Deal
OKX announced on Tuesday that it is reopening its U.S. crypto exchange. The company also introduced a new Web3 wallet for American users. This move follows a significant $505 million settlement with the U.S. Department of Justice (DOJ).
In a statement, OKX declared, “We’re officially launching in the U.S. with our centralized exchange and powerful multi-chain Web3 Wallet.” The company has appointed Roshan Robert as its U.S. CEO and has set up its regional headquarters in San Jose, California. Robert, a former Barclays executive, expressed enthusiasm about his new role, stating, “I’m honored to join OKX as the U.S. CEO. I look forward to leading our expansion into the United States and broadening access to digital assets in a secure, transparent, and compliant way.”
The rollout will start in phases. Initially, it will focus on migrating existing OKCoin users to the OKX platform. Importantly, the company claims that this transition will provide users with lower fees, advanced trading tools, and greater liquidity. A nationwide launch is planned for later this year. Once operational, American users will be able to trade major cryptocurrencies, including Bitcoin, Ethereum, USDT, and USDC. They can also link their local bank accounts for easier deposits and withdrawals.
OKX maintains a robust global proof-of-reserves system. The company publishes independently verified monthly reports through blockchain security firm Hacken. Additionally, it has implemented a comprehensive compliance program with KYC protocols, fraud detection tools, and market surveillance technology.
The relaunch follows a settlement reached in February 2025 with the DOJ. As part of that agreement, OKX’s parent company, Aux Cayes FinTech Co. Ltd, will pay $84 million in civil penalties and forfeit $421 million garnered from U.S. clients. The DOJ found that OKX had permitted American users to access its global platform, violating their policies since 2017. Investigators flagged over $5 billion in transactions that raised concerns about anti-money laundering regulations.
In response to these findings, OKX has since ceased operations for certain affected users and stated that no allegations of customer harm were made. The company has hired a compliance consultant to enhance its regulatory measures further.
With this move, OKX aims to regain trust and innovate within the U.S. market. By leveraging advanced technology and compliance, OKX plans to position itself as a leading player in the U.S. crypto landscape.
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