Why is OKX cryptocurrency prohibited in the US?
Cryptocurrency exchange OKX has been prohibited in the US since 2019 due to its involvement in money laundering and fraud. According to the Financial Crimes Enforcement Network (FinCEN), OKX was involved in money laundering activities such as transferring funds to countries under US sanctions. In addition, OKX was found to be involved in fraud, including providing false information about its services and operations. As a result, the US Department of Treasury's Office of Foreign Assets Control (OFAC) put OKX on its Specially Designated Nationals and Blocked Persons (SDN) list, effectively banning the exchange in the US.
Cryptocurrency exchange OKX has been prohibited in the US since 2019 due to its involvement in money laundering and fraud. According to the Financial Crimes Enforcement Network (FinCEN), OKX was involved in money laundering activities such as transferring funds to countries under US sanctions. In addition, OKX was found to be involved in fraud, including providing false information about its services and operations. As a result, the US Department of Treasury's Office of Foreign Assets Control (OFAC) put OKX on its Specially Designated Nationals and Blocked Persons (SDN) list, effectively banning the exchange in the US.