OKX, one of the largest cryptocurrency exchanges that were decided with US authorities not to make a license to function as a money gender, announced the stock exchange on Monday.

Aux Cayes Fintech Co. Ltd., an OKX -affected company, is the specific party that decided the US Department of Justice, which pays over $ 500 million in sanctions and lost fees, a press release said.

OKX failed to secure a money transmitter license, Exchange said with no details of which state that the license had to be issued from. A DOJ press message said “OKX sought customers in the US, including in the southern district of New York.”

A person who was familiar with the situation told Coindesk that the settlement solved accusations of false and non-compatible activities on the exchange that took place in the past years.

DOJ’s press release said OKX relieved more than $ 5 billion in “suspicious transactions and criminal cases”, citing the acting US lawyer Matthew Podolsky.

OKCOIN, the US branch of OKX, also received a subpoena issued by the Commodity Futures Trading Commission (CFTC) on February 24 last year. Coindesk then the front of the subpoena referring to “certain persons dealing with fraud and other illegal behavior with regard to digital active transactions.”

Another person said the CFTC probe to Okcoin relates to last year’s flasher -breaking out of Exchange’s original token after the sudden fall in the price of OKB -Token on January 23, 2024. Okx told users that they would be compensated for losses caused by crash .

An internal document that was circulated to OKX staff in January 2024 highlighted “A new ethics and observance helmet to provide a confidential and safe space for you to have concerns or issues of ethical behavior, violation of political or suspicion of illegal behavior. “

OKX representatives did not immediately respond to requests for comment. A spokesman for CFTC refused to comment.

Update (February 24, 2025, 21:35 UTC): Adds additional information.