Crypto trade OKX has appointed Linda Lacewell as its new Chief Authorized Officer, the corporate introduced. Lacewell, who beforehand served because the Superintendent of the New York Division of Monetary Companies (NYDFS), will oversee the corporate’s world regulatory and compliance technique.
OKX additionally confirmed the departure of Mauricio Beugelmans, who served as the corporate’s Chief Authorized Officer for a yr and eight months.
Lacewell joined OKX as a board member in 2024 and has since been concerned in advising its authorized and compliance groups. Her appointment comes because the trade expands its operations in key markets, together with Europe and the United Arab Emirates.
Throughout her tenure at NYDFS, Lacewell led the oversight of banking, insurance coverage, and monetary establishments in New York. She was concerned in modernizing the state’s cryptocurrency licensing framework and labored on initiatives associated to cybersecurity and monetary crime investigations.
We’re thrilled to share that Linda Lacewell beforehand regulator / Head of NYDFS, has not too long ago stepped into the position as Chief Authorized Officer.
We’re enthusiastic about Linda's wealth of expertise to advance OKX's regulatory footprint. Learn extra: https://t.co/VPFPYuixoJ pic.twitter.com/uaYnPqOUGi— OKX (@okx) March 31, 2025
OKX Continues to Safe Regulatory Approvals
OKX has been securing regulatory approvals in a number of jurisdictions over the previous yr and is planning additional growth into new markets. The corporate acknowledged that Lacewell’s experience will play a task in navigating evolving regulatory necessities because it adapts its merchandise for various areas.
OKX is among the many world’s largest cryptocurrency exchanges by buying and selling quantity. Exchanges have been in search of licensing approvals to make sure compliance with regional rules whereas increasing their world footprint.
Lacewell’s transfer to OKX follows a broader pattern of former regulators taking roles within the cryptocurrency trade. Different exchanges and blockchain companies have additionally employed former authorities officers in authorized and compliance positions as regulatory scrutiny intensifies.
OKX Operator Paid $505M in Fines for Violating US Cash Laundering Legal guidelines
The US Division of Justice had introduced earlier this yr that the operator of OKX, Aux Cayes FinTech Co, pleaded responsible to violating US anti-money laundering legal guidelines and agreed to pay $505 million in fines and forfeitures.
Prosecutors revealed that from 2018 to early 2024, OKX allowed US customers to bypass restrictions, facilitating over $1 trillion in transactions, together with $5 billion linked to suspicious or felony actions. Regardless of its acknowledged coverage towards serving US prospects, the trade generally inspired them to evade the ban.
On March twenty first, Thailand’s SEC filed a felony grievance towards OKX operator and 9 people for allegedly operating an unlicensed digital asset trade. The regulator accused them of violating native legal guidelines by working with out correct authorization.
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