OKX, Global Crypto Exchange, Under Investigation for Unlicensed Operations in South Korea

Financial authorities are intensifying efforts to uncover undeclared Virtual Asset Service Providers (VASPs), with reports emerging against prominent global exchange OKX. DAXA received a report alleging OKX’s unlicensed operation in South Korea, forwarding it to the Financial Intelligence Unit (FIU) for investigation. OKX, known for its IEO platform ‘OKEx Jumpstart’, faces scrutiny despite lacking Korean language support on its website. Allegations stem from its promotion via influencers on Telegram, targeting Korean customers. While not confirmed as an undeclared business, OKX’s situation awaits decision by financial authorities amidst ongoing investigations.

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