Volatility in the cryptocurrency market persists despite the resolution of legal issues. Bitcoin prices have not shown the expected rise.
Challenges in the Cryptocurrency Market
Despite addressing numerous issues after Trump's assumption of office, negativity surrounding cryptocurrencies continues. Even with resolving matters with the U.S. Department of Justice, Bitcoin's price did not show a rebound. Losses in altcoins are nearly 8% for many assets.
OKX and the U.S. Department of Justice
Today, Aux Cayes FinTech announced the conclusion of an investigation initiated by the U.S. Department of Justice due to operating without a money transmitter license. The company agreed to pay a fine of 84 million dollars and refund approximately 421 million dollars in fees earned from U.S. customers during the relevant period.
Future Plans of OKX
In the announcement made by OKX, proactive steps taken to address compliance issues were outlined. The company hired a compliance consultant to enhance its overall compliance program and plans to continue working with this consultant in the future. OKX expressed satisfaction with their cooperation with the DOJ in resolving the case.
Despite progress in legal resolution, market volatility remains. OKX plans to continue its global expansion efforts.
