OKX Relaunches in U.S. with New Platform After $505M DOJ Settlement

The relaunch marks a notable development for OKX, which previously operated in the U.S. without full regulatory approval. In February 2025, the company acknowledged shortcomings in its compliance practices, including operating as an unlicensed money-transmitting business and Know Your Customer procedures. According to the DOJ, OKX processed over $1 trillion in transactions for U.S. users between 2018 and early 2024, with a portion linked to potentially suspicious activity.

As part of the settlement, OKX agreed to pay $84 million in penalties and forfeit $421 million in profits earned from U.S. customers. The company also committed to employing an external compliance consultant through February 2027 to ensure adherence to U.S. regulations.

To spearhead its U.S. operations, OKX appointed Roshan Robert, a former Barclays executive, as CEO. Robert brings extensive experience from his tenure at Barclays and as a partner at crypto prime broker Hidden Road. He expressed enthusiasm about the relaunch, stating, "Over the past eight months, I worked alongside some of the most talented and dedicated people in the digital asset industry as we built OKX US."

The new U.S. platform will initially roll out in phases, with a nationwide launch planned for later in 2025. Existing Okcoin users will be migrated to the upgraded OKX platform, which promises deeper liquidity, lower fees, and advanced trading tools. Additionally, the OKX Wallet, supporting 130 blockchains and featuring a decentralized exchange aggregator, will be available to U.S. customers.

OKX's return to the U.S. comes amid a broader shift in the regulatory landscape. Under the current administration, there has been a move toward easing restrictions on the cryptocurrency sector, with the SEC dropping several high-profile lawsuits and investigations into crypto firms.

Despite its past infractions, OKX appears committed to compliance and transparency. The company has pledged to work closely with U.S. regulators and policymakers to ensure it operates within the bounds of the law. In a recent statement, OKX emphasized its dedication to responsible growth: "Our entry into America is more than a market expansion — it's a commitment to responsible growth."

As OKX reestablishes its presence in the U.S., the crypto community will be watching closely to see how the exchange navigates the complex regulatory environment and rebuilds trust with American users.