Quantcast

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

CRYPTO NEWS AROUND THE GLOBE
Trump-Touted Crypto Website Crashes as Token Sale Goes Live, With Just 1.7% of Target Sold
How Coinbase’s Base dethroned Arbitrum as top Ethereum layer 2
BTC's Trendline Breakout Exposes $70K Hurdle, ETH Holds 200-Day Average
Google weekly relative search volume for 'bitcoin' hits lowest level in a year
The 15 years of Bitcoin immortalized thanks to The Bitcoin Masterpiece, by Frederic Imbert
UK, Colombia crypto exchanges linked in TD Bank record fine
For Millennials, Bitcoin Is the New Real Estate
Binance exec Tigran Gambaryan again denied bail in Nigeria despite 'clear evidence of medical requirement,' family says
Ripple (XRP) goes on the offensive after the SEC appeals the court ruling against it
Binance exec’s bail plea dismissed on technicality
BloFin impresses at the’ event TOKEN2049 Singapore with its clear vision for rapid expansion
Crypto.com sues SEC amid agency threats over Solana, Binance, Cardano tokens
Former Bitcoin developer points out missing detail undermining HBO's claim that Peter Todd is Satoshi
AI startups draw record $11.8B funding in Q3
Former Bitcoin Dev Peter Todd Denies He's Satoshi Hours Before HBO Documentary Airs
OpenAI, the creator of ChatGPT, will open an office in Paris this year
Crypto Custody Firm Copper’s CEO Dmitry Tokarev Plans to Step Down
HBO announces that the identity of Satoshi Nakamoto will be revealed in its next documentary dedicated to the creator of Bitcoin
JPMorgan analysts identify key catalysts shaping crypto's near-term outlook
The season from the same corners is back: POPCAT, MOG and NEIRO are leading the way
Congressman on constituent imprisoned in Nigeria: 'I don't know if they don't have the ability to treat him or they just don't wish to'
Columbia Business Professor: 'we will be reaching the point where transacting on blockchains is absolute poison for criminals'
SEC files appeal in Ripple lawsuit
Is Visa Preparing a Crypto Revolution for Banks with VTAP?
Binance announces full digital asset license in Kazakhstan
Crypto Payments Firm BCB Group Was the Subject of an FCA Investigation: Sources
Can the third world war break the Bitcoin cycle and prevent the next bull run?
SEC appeals Ripple case ruling, citing conflict with Supreme Court precedent
Bitcoin Crumbles to $60K, Giving Up Most Post-Fed Rate Cut Gains
Three OpenSea execs quit in last three months as troubles mount for NFT marketplace
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

Chief market strategist of Creative Planning: 'Gold and Bitcoin are now the top-performing major assets so far in 2025'

Charlie Bilello, chief market strategist of Creative Planning, said that gold and bitcoin lead all major asset classes in performance for 2025, marking a unique occurrence.

Jul 18, 2025

Binance to update collateral ratios for several assets under Cross Margin

Binance has announced an update to the collateral ratios for several assets under its Cross Margin platform, set to occur between July 25 and August 1.

Jul 18, 2025

Binance founder on Sen. Warren comments: 'NYSE ≠ economy'

Changpeng "CZ" Zhao, founder of Binance, said that the New York Stock Exchange (NYSE) should not be equated with the entire U.S. economy.

Jul 18, 2025

Co-founder of Ethereum on L2 development: A 'combination of trust minimization and efficiency'

Vitalik Buterin, co-founder of Ethereum, said that building layer-2 networks to leverage Ethereum’s core features delivers security and efficiency unachievable by earlier enterprise blockchains.

Jul 18, 2025

European Crypto Initiative co-founder: MEV counter-measures should consider 'DeFI users and crypto-assets market integrity'

Marina Markezic, co-founder of the European Crypto Initiative, said that increased regulatory attention on Maximal Extractable Value (MEV) necessitates counter-measures to protect users and maintain market integrity while ensuring blockchain...

Jul 16, 2025

Founder of Binance on Bloomberg coverage: 'Might have to sue them again for defamation'

Changpeng Zhao, founder of Binance, has said that a Bloomberg article contained multiple factual errors and suggested that legal action for defamation could be considered again.

Jul 16, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

CEO of Edge & Node on Argentina’s inflation crisis: 'They would get paid in stablecoins'