OKX Faces Heavy Fine and Regulatory Scrutiny in Malta Over AML Failures

In a significant regulatory development, cryptocurrency exchange OKX has been hit with a substantial fine by Maltese authorities for violations of Anti-Money Laundering (AML) laws. This move underscores the increasing scrutiny that crypto exchanges are facing globally, particularly in the wake of growing concerns about illicit financial activities.

Malta Issues $1.2 Million Fine to OKX for Past AML Failures

Cryptocurrency exchange OKX is under regulatory scrutiny in Europe after Maltese authorities issued a fine for violations of Anti-Money Laundering (AML) laws. On April 3, Malta’s Financial Intelligence Analysis Unit (FIAU) announced that it had fined OKX’s Europe-based arm, Okcoin Europe, 1.1 million euros ($1.2 million) for multiple AML failures detected in 2023. Despite receiving a license under Europe’s new Markets in Crypto-Assets (MiCA) regulation in January 2025, which allows OKX to offer regulated services to over 400 digital asset users across Europe, the FIAU’s fine underscores that the MiCA license does not exempt the company from accountability for past compliance failures.

OKX Hit with $1.2m Fine from Maltese Authorities for Breaching AML Rules

Malta’s Financial Intelligence Analysis Unit has imposed a fine of €1.1 million ($1.2 million) on OKX for failing to comply with the nation’s Anti-Money Laundering (AML) standards. According to a Bloomberg report, the trading platform was found to have neglected potential money laundering risks stemming from its products during onsite compliance examinations conducted by the FIAU in April 2023. The violations were described as ’serious’ and ’systematic,’ particularly concerning the exchange’s Customer Risk Assessment procedures.