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OKX Quietly Settled Regulatory 'Failings' With Malta Financial Services Authority

Last month, OKX, the second-largest cryptocurrency exchange, reached a little-noticed 304,000 euro ($329,000) settlement with the Malta Financial Services Authority (MFSA) for certain "failings" related to its Okcoin Europe subsidiary. The Malta regulator's investigation found failings with respect to Article 41 of the MFSA Virtual Financial Assets Act, according to a filing. OKX declined the opportunity to elaborate on what the regulatory problem involved when contacted by CoinDesk. An OKX representative said there would be no further comment on the nature of the exchange's shortcomings or the goodwill settlement. OKX has been sunsetting its Okcoin entities in Europe and the U.S. and rebranding them under the OKX banner.


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