Malta exports $ 1.2 million a fine to OKX for the failure of last AML amid MICA – TradingView News
Cryptocurrency Exchange OKX is subject to organizational audit in Europe after the Maltese authorities have issued a fine due to violations of the anti -money laundering laws (AML).
On April 3, the Malta Financial Intelligence Unit (FIAU) announced that it had fined OKCOIN EUROPE, which is taken from the OKCOIN in Europe, 1.1 million euros ($ 1.2 million) for the multiple AML failure that was discovered in 2023.
In January 2025, OKX received a license under the organization of new markets in Europe in encrypted assets (MICA). OKX allows to provide organized services to more than 400 digital asset users across Europe. However, the FIAU fine shows that the MICA license does not protect the company from accountability from the failure of the past compliance.
AML failed from OKX for 2023
Although OKX has improved AML policies over the past 18 months, it has not been able to overlook the failure of serious and methodological compliance since 2023. These issues were identified while examining the business risk assessment in OKX (BRA), which failed to evaluate the risk of money laundering appropriately.
The Authority has highlighted the shortcomings of the brake method, including the inability to manage risks related to cryptocurrencies, privacy currencies, nails, and decentralized exchanges.
OKX is facing new organizational tests in Europe after it has been fined 1.1 million euros by Malta’s Fiau due to the previous AML violations. Despite the recent improvements, the past mistakes are chasing the encryption giant 🌍💸 #CryPtonow #aml #okx pic.twitter.com/p1ubGn8vps
The European Union is looking for a penetration bybit
FIAU has also raised concerns about the exposure of OKCOIN EUROPE to the risk of money laundering from other judicial states, although the company pledged to serve European customers only. The organizer stressed the importance of looking at the potential risks of customer financing sources.
OKX did not respond to a request to comment on whether the stock exchange was accepted in violations. A spokesman for Exchange stated that he is still focusing on “building a safe, transparent and compatible platform” for users all over the world.
The fine of Malta follows other reports on OKX organizational investigations. In March, Bloomberg reported that the European Union organizers were looking for OKX because of its potential participation in laundering $ 100 million of money from the BYBIT penetration. BYBIT CEO claimed that the OKX Web3 agent enabled the infiltrators to launder a portion of the stolen money. OKX denied these allegations, describing them to mislead information.
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