Quantcast

OKX secures MiCA approval despite ongoing EU probe into $100M crypto laundering

CRYPTO NEWS AROUND THE GLOBE
SEC’s Gary Gensler ditches favourite crypto broadside
Will Dogecoin hit $1 in June? What the forecasts tell us
Author: U.S. citizen detained in Nigeria is being 'denied proper medical treatment for malaria'
France: Lugh announces the end of its stablecoin EURL – Why?
Europe: Bitpanda announces major partnership with Deutsche Bank
What are the 5 cryptocurrencies that performed best in May 2024?
Binance to restrict 'unauthorized' stablecoins in EU starting June 30, urges users to switch to regulated tokens
Ethereum ETF: 3 reasons for future failure for JPMorgan
SpacePay Brings Crypto To Traditional Commerce Using Revolutionary Payment Software – Next Big Altcoin of 2024?
Crypto: The impact of the European elections on regulation
“We must change this peremptory tone”: Bruno Le Maire tackled by the Finance Commission on the public deficit
Bitcoin and gold: A growing correlation to closely monitor
Franklin Templeton files amended S-1 for spot Ethereum ETF, lists 0.19% fee
Breaking: DMM Bitcoin Loses 4,502.9 BTC in $305 Million Crypto Hack
A crypto developed thanks to ChatGPT has gained more than 2,000%
DeFi Data Firm API3 Raises $4M in Funding Round Led by DWF Labs
SEC condemned for abuse of power
The U.S. Response to Binance Exec Tigran Gambaryan's Detention Is Shameful
Binance France drops CZ and names two new shareholders to preserve European foothold
Jailed Binance exec in Nigeria is struck by malaria amid anguished pleas from his lawyers and family
SOL, XRP Could Be Possible Candidates for ETFs, Standard Chartered Says
The Paris stock exchange falls as the Fed delays cutting its rates
DOGE: Kabosu, the dog behind the memecoin Dogecoin, died at the age of 17
Ethereum spot ETF (ETH): SEC approves plans from NYSE, CBOE and Nasdaq
Binance exec collapses in Nigerian court as health worsens in prison
WisdomTree may launch its Bitcoin and Ethereum ETPs on the London Stock Exchange
Crypto top & flop: the market pauses except for these three altcoins!
Binance assists Taiwan authorities with money-laundering scheme
A TV host becomes CEO of this crypto platform
Farcaster raises $150M for its social network built on Ethereum
All Crypto News Around The Globe
OKX secures MiCA approval despite ongoing EU probe into $100M crypto laundering
Web3/Crypto
Webp 86
Melissa Muehlfeld, Global General Counsel at OKX | LinkedIn

OKX has announced that it has secured full Markets in Crypto-Assets (MiCA) approval amid an ongoing European regulatory investigation into its Web3 platform. The platform was allegedly used to launder $100 million in stolen cryptocurrency from Bybit. This announcement was made on the company's website on March 12.

OKX, a Seychelles-based cryptocurrency exchange, recently obtained a Markets in Financial Instruments Directive (MiFID II) license, allowing it to offer regulated investment services across the European Union. According to Crypto News, this development follows its earlier pre-authorization under the MiCA framework.

However, these approvals come as European regulators investigate OKX's Web3 platform. Authorities are examining the platform's alleged involvement in laundering approximately $100 million in stolen cryptocurrency linked to a $1.5 billion hack of the Bybit exchange. Bloomberg reports that hackers, reportedly associated with North Korea, used OKX's Web3 services for laundering activities, prompting regulators to assess potential violations under MiCA regulations.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

According to the Wall Street Journal, despite significant investments in compliance efforts, companies like Binance and Coinbase continue to face regulatory challenges. Binance has spent over $213 million on Know Your Customer (KYC) and Anti-Money Laundering (AML) programs and secured 21 regulatory approvals, including registration with India's Financial Intelligence Unit. Meanwhile, Coinbase has expanded its global compliance efforts but still encounters legal battles in both the U.S. and Europe. These challenges underscore the ongoing scrutiny even highly compliant exchanges endure.

Founded in 2017 and based in Seychelles, OKX operates one of the largest global crypto exchanges. According to The New York Times, the company has faced multiple regulatory challenges, including a recent $500 million settlement in the U.S. for unlicensed transactions.

Organizations Included in this History
Bybit
More News

CNMV issues reporting templates for crypto-asset service providers under MiCA

The Comisión Nacional del Mercado de Valores (CNMV) has announced a new circular establishing reporting templates for crypto-asset service providers, detailing the required disclosures under the Markets in Crypto-Assets Regulation (MiCA).

May 3, 2025

Consob announces blackout of 4 websites for unauthorized crypto services

The Commissione Nazionale per le Società e la Borsa (Consob) has announced the blackout of four new websites involved in the unauthorized offering of financial services or crypto-activities under the Markets in Crypto-Assets Regulation (MiCAR).

May 3, 2025

BaFin announces warning on company Weisshub Fin

The German Federal Financial Supervisory Authority (BaFin) has announced an investigation into Weisshub Fin for allegedly offering banking, financial, and cryptoasset services on its website without the necessary authorization.

May 3, 2025

ESMA issues guidelines on market abuse supervision under MiCA

The European Securities and Markets Authority (ESMA) has announced new guidelines to enhance supervisory practices aimed at preventing and detecting market abuse under the Market in Crypto-Assets Regulation (MiCA).

May 3, 2025

EBA proposes rules requiring contact points for crypto firms

The European Banking Authority (EBA) has announced new draft Regulatory Technical Standards (RTS) detailing when crypto-asset service providers (CASPs) must designate a central contact point to aid in the fight against financial crime.

May 3, 2025

Blockchain lawyer: 'Crypto’s broader purpose' is restoring 'non-commercial third spaces'

Florian Glatz, a blockchain lawyer, has suggested that 2024 may mark the peak of "skeuomorphism" in the cryptocurrency sector.

Apr 23, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

Crypto Price Shifts for April 6, 2025