OKX, based in Seychelles, announced Tuesday that it was relan the American version of its crypto exchange and unveiled a new portfolio for American users to store as well as cryptocurrencies. The company also appointed Roshan Robert, a longtime employee of Barclays, as an American CEO and revealed that he would locate his regional headquarters in the United States in San Jose, California.
“It is not only the brand change. The whole technological interface, everything has changed,” said Robert, who was recently a frame of the Crypto Prime Broker Hidden Road, which was acquired by Ripple for $ 1.25 billion in April.
OKX renewed accent on the United States follows a settlement The international exchange entity arrived with the Ministry of Justice in February. The prosecutors alleged that OKX had not implemented adequate anti-money lamination processes and requested American customers even if its international entity was not registered in the United States. As part of the agreement, OKX paid a fine of $ 500 million, pleaded guilty to an operating manager of a money transmission company without license and agreed to pay an external consultant in terms of compliance until February 2027.
“For more than seven years, OKX knowingly violated anti-flowage laws and avoided the implementation of policies required to prevent criminals from mistreating our financial system,” said Matthew Podolsky, American lawyer for the South District, in a statement announcing the settlement.
“There was no allegation of customer damage, no accusation against any employee of the company and no instructor appointed by the government in the context of the regulations,” said OKX in a blog.
The revival of the United States of exchange also occurs in the midst of a more favorable regulatory environment for the crypto under President Donald Trump. Robert, the American CEO, said that OKX’s plans to increase his American presence before Trump’s second term. He started speaking with the exchange of crypto in the summer of 2024 and was officially caused in September. “We were preparing our compliance infrastructure, our risk management infrastructure for the last year and a half,” he added.
That said, Robert welcomes the less aggressive approach to the Trump administration in terms of crypto. “The regulations will take some time, but there is a path that we can see,” he said.
While Robert directs the new OKX US, relaunct, he faces strong competition from Coinbase and Kraken holders. However, he thinks that the market in the United States is not zero and thinks that the appetite of young generations for risky crypto bets will increase the pie. “The entire digital asset market is an expanding universe,” he said.
Hong Fang, OKX World President, previously supervised the US OKX entity, which was formerly called Okcoin.
This story was initially presented on Fortune.com
