At the moment in crypto, Malta’s Monetary Intelligence Evaluation Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based arm — 1.1 million euros ($1.2 million) after detecting a number of Anti-Cash Laundering (AML) failures on the platform in 2023, the Genius Group says it’s being pressured to downsize its Bitcoin treasury by order of a US court docket, and President Donald Trump’s choose for US Securities and Change Fee (SEC) chair handed a key committee vote.
Malta regulator fines OKX crypto change $1.2 million for previous AML breaches
Cryptocurrency change OKX is beneath regulatory scrutiny in Europe after Maltese authorities issued a high quality for violations of Anti-Cash Laundering (AML) legal guidelines previously.
Malta’s Monetary Intelligence Evaluation Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based arm — 1.1 million euros ($1.2 million) after detecting a number of AML failures on the platform in 2023, the authority introduced on April 3.
Whereas admitting that OKX has considerably improved its AML insurance policies previously 18 months, the authority “couldn’t ignore” its compliance failures from 2023, “a few of which have been deemed to be critical and systematic,” the FIAU mentioned.
OKX was among the many first crypto exchanges to obtain a license beneath Europe’s new Markets in Crypto-Belongings (MiCA) regulation by way of its Malta hub in January 2025.
The FIAU said that on the time of the compliance examination in 2023, OKX compiled a enterprise threat evaluation (BRA) in an try and establish threats and vulnerabilities.
The regulators discovered a number of deficiencies inside the BRA’s methodology, making OKX unable to correctly entry the cash laundering dangers it was uncovered to and to take mandatory measures to handle them, it mentioned.
A few of these dangers included potential threats from using cryptocurrency mixers or tumblers, privateness cash, stablecoins and the utilization of tokens on decentralized exchanges.
An excerpt from FIAU’s penalty assertion to Okcoin Europe. Supply: FIAU
A spokesperson for OKX didn’t reply to Cointelegraph’s request to touch upon whether or not the change admitted to such wrongdoing previously.
“With this chapter behind us, OKX stays centered on the longer term — persevering with to construct a safe, clear, and compliant platform for our customers worldwide,” the consultant mentioned.
Genius Group says it’s been banned from shopping for extra Bitcoin
Singapore-based synthetic intelligence agency Genius Group says it’s briefly barred from increasing its Bitcoin treasury after a US court docket order has banned it from promoting shares, elevating funds and utilizing investor funds to purchase extra Bitcoin.
Supply: Roger James Hamilton
A New York District court docket issued the preliminary injunction (PI) and short-term restraining order (TRO) on March 13 in reference to a broader dispute surrounding its merger with Fatbrain AI, the Genius Group mentioned in an April 3 assertion.
“Genius is taking all mandatory measures to reduce Bitcoin gross sales however anticipates that it might want to downsize its Bitcoin Treasury within the coming months within the occasion the PI stays in place,” the agency mentioned.
Paul Atkins’ SEC nomination passes committee vote
Paul Atkins is one step nearer to securing the highest place on the US Securities and Change Fee after the Senate Banking Committee voted to advance his nomination.
In an April 3 banking committee session, lawmakers voted 13 to 11 for Atkins to serve two consecutive phrases as a commissioner on the authorities company, successfully taking on former Chair Gary Gensler’s time period.
Atkins’ nomination is predicted to go to a full Senate vote within the close to future.
Senator Tim Scott speaks on the committee listening to. Supply: US Senate Banking Committee
Earlier than the vote, committee chair Tim Scott mentioned Atkins would convey “much-needed readability” to the cryptocurrency sector.
Donald Trump chosen Atkins to switch Gensler because the SEC head in December, roughly one month after profitable the presidential election.
On the time, Trump praised Atkins’ observe file as a former SEC commissioner and for his experience in digital belongings.
