South Korea Financial Authorities Probes Crypto Exchange OKX for Alleged Unregistered Operations

South Korea's financial authorities are investigating global crypto exchange OKX for potentially operating illegally within the country, according to local news reports. This follows accusations that OKX promoted its services to South Korean users without proper registration. The Digital Asset Exchange Association (DAXA), representing leading South Korean crypto exchanges, reportedly brought OKX's activities to the attention of the Financial Intelligence Unit (FIU) in February 2024. South Korea has strict regulations requiring crypto exchanges to register before offering services to residents. Failure to adhere to these regulations can result in hefty penalties from financial regulators.

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