Quantcast

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

CRYPTO NEWS AROUND THE GLOBE
EU revises growth downwards to 0.9% in 2025, weighed down by Donald Trump's customs duties
United Kingdom: Crypto firms will have to report all customer transactions
Ethereum on the brink of an incredible surge? This expert's bold prediction
American Bitcoin, BTC Miner Backed by Eric and Donald Trump Jr, to Go Public
China and the United States Reach an Agreement – ​​What if It's Bad News for Bitcoin?
Crypto custodian BitGo secures MiCA license in Germany
Ethereum Explodes to $2,600, Surpassing the Market Valuations of Coca-Cola and Alibaba
SEC Chair Paul Atkins unveils his vision for crypto regulation as the agency charts a friendlier approach to digital assets
Coinbase's SEC Documents Reveal NY Attorney General Wanted ETH Declared Security
Bhutan launches crypto payment system for tourism with Binance Pay
Robinhood plans blockchain platform to allow trading of US securities in Europe: Bloomberg
Bad news for Bitcoin: Strategic BTC reserve plans postponed in Florida
Cryptocurrency References in SEC Files Explode to New All-Time High
Tokenized Treasuries Hit Record $4.2B Market Cap as Crypto Correction Fuels Growth
Maximizing BNB Utility on Binance: A Guide to the Benefits
FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse
Binance recognized by Indonesian cybercrime directorate for collaborative efforts
It's the first institutional investment in the crypto exchange and the investment was made in an unnamed stablecoin, Binance said.
US CPI Inflation Drops to 2.8%: Is Bitcoin About to Explode Again?
Business founder on Binance France allegations: 'What is this madness?'
Indian authorities arrest alleged Garantex founder for US extradition
Trump’s crypto summit ‘not going to have anything on taxes’ — White House official
Bitcoin: USA could sell gold to finance its strategic BTC reserve
Lawmaker of Japanese LDP on crypto regulation: We will classify 'Crypto assets as a new asset class'
Tom Lee Predicts Market Bottom This Week, Still Sees Bitcoin Closing the Year at $150K
IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador
Bitcoin: Michael Saylor's company pauses BTC purchases
Head of law enforcement training at Binance: We need 'a unified approach between law enforcement and industry leaders'
Bitcoin Sell-Off Could Be a Textbook 'Breakout and Retest' Play: Godbole
CEO of Binance on crypto market turbulence: 'A tactical retreat, not a reversal'
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

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

Ethereum co-founder: Privacy protections create 'a more secure world with stronger freedoms'

Vitalik Buterin, co-founder of Ethereum, has emphasized the importance of robust privacy protections for security.

Jul 16, 2025

Chief Market Strategist of Creative Planning on S&P 500: 'There is no impossible in markets'

Charlie Bilello, Chief Market Strategist at Creative Planning, said that the S&P 500's strong rebound from a steep early-year loss to a year-to-date gain illustrates the unpredictability and resilience of markets.

Jul 16, 2025

Binance unveils world’s first Sharia-compliant multi-token staking product

Binance has announced the launch of Sharia Earn, a multi-token staking product designed to comply with Islamic finance principles.

Jul 16, 2025

Ripple CEO in Senate testimony: We help 'financial institutions reduce friction, unlock efficiencies, and serve their customers better'

Brad Garlinghouse, CEO of Ripple, said that the company enables global financial institutions to enhance cross-border payments and efficiency through digital technology.

Jul 9, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

Executive Chairman of Strategy: Public firms added ~131K BTC in Q2, boosting their bitcoin holdings by 18%