OKX's Europe company, also known as OKCoin Europe, has been fined 1.05 million euros ($1.2 million) by Malta's Financial Intelligence Analysis Unit (FIAU) for breaching local money laundering regulations. The FIAU determined that the company failed to adequately assess the risks of money laundering and terrorism financing related to its products. Despite this setback, OKX has expressed its commitment to regulatory compliance and has made improvements to its compliance framework since a review in 2023. The authority highlighted the need for the exchange to evaluate risks associated with specific services, including mixers and privacy coins. Following recent scrutiny from European regulators regarding its decentralized exchange aggregator, OKX temporarily suspended its operations for this platform. The company has previously secured a Markets in Crypto Assets license from Malta, and it aims to uphold and exceed global regulatory standards.

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