OKX Fined €1.1 Million by Malta’s FIAU for AML Compliance Failures

Malta’s Financial Intelligence Analysis Unit (FIAU) has imposed a €1.1 million ($1.2 million) fine on cryptocurrency exchange OKX for systemic breaches of anti-money laundering (AML) regulations. The regulator identified significant gaps in OKX’s risk assessment processes, failing to address money laundering risks tied to its products. This enforcement action underscores growing regulatory scrutiny on crypto exchanges operating in Malta.

OKX Exchange Fined $1.2 Million by Malta’s FIAU for AML Violations

OKX, a crypto exchange, has been fined €1.1 million (equivalent to $1.2 million) by Malta’s Financial Intelligence Analysis Unit (FIAU) for breaching anti-money laundering (AML) laws. The FIAU regulates exchanges and found that OKX committed multiple financial violations forming a systematic pattern. The FIAU claimed that OKX’s risk assessment process did not account for possible money laundering risks associated with their products, and only half of new clients were screened. Additionally, the FIAU raised concerns about external reporting and the lack of record-keeping.

PROMPT Token Goes Live on OKX Amid Airdrop Claiming Process

OKX has officially listed Wayfinder’s PROMPT token, coinciding with the ongoing claim process for the Phase 2 airdrop campaign. Eligible PRIME stakers can now unlock their PROMPT rewards. Deposits for PROMPT opened on April 9 at 2:00 AM UTC, with spot trading for the PROMPT/USDT pair going live on April 10 at 1:00 PM UTC. The listing marks the official launch of the PROMPT token after months of building and community engagement.