Struggles Persist in Cryptocurrency Markets Despite Legal Resolutions

Many issues were addressed following Trump’s assumption of office; however, negativity surrounding cryptocurrencies continues. Despite resolving its issues with the U.S. Department of Justice, Bitcoin $105,862‘s price did not respond as expected. Losses in altcoins have approached nearly 8% for many assets.

OKX and the U.S. Department of Justice

Today, Aux Cayes FinTech announced the conclusion of an investigation initiated by the U.S. Department of Justice due to operating without a money transmitter license. To resolve the matter, the company agreed to pay a fine of 84 million dollars and refund approximately 421 million dollars in fees earned from U.S. customers during the relevant period.

In the announcement made by OKX at the time of writing, details included the company’s proactive steps to address compliance issues. The company hired a compliance consultant to help enhance its overall compliance program and plans to continue working with this consultant in the future. OKX expressed appreciation for its cooperation with the DOJ in resolving the case.

The company prides itself on consistently adhering to local laws and regulations in all the countries it operates, aiming to be a trusted crypto platform for millions worldwide. OKX expressed satisfaction with the decision and looks forward to implementing its global expansion plans while maintaining its status as a reliable and technology-focused cryptocurrency exchange.