Reportedly the OKX founder is under an alleged investigation by the US authorities.
OKX is an averagely popular cryptocurrency exchange where people can buy, sell, and trade various cryptocurrencies like Bitcoin and Ethereum. In 2017, this platform was founded by Star Xu in 2017. The services of OKX exchange are not available in the United States. OKX is owned by OK Group, which also owns the crypto exchange OKcoin. OKCoin USA provides crypto services mainly focused on the US crypto market.
Recently many people across the social media platform X (formerly Twitter) started to speculate that the US authorities started an investigation against OKX founder Star Xu, whose real name is Mingxing Xu.
In response to such speculations, Xu responded & dismissed and called all such reports a part of rumour only.
OKX’s partnership lead, Gala Wen also responded to these rumours and said that all such claims are false. Furthermore he said that Xu is actively engaged in the company’s US based crypto operations & also said that company is not facing any kind of legal hurdles.
These rumours around this crypto exchange have huge support because of the hostile regulatory environment in the US Jurisdiction for the crypto sector. Currently, the majority of the top crypto exchanges are facing lawsuit action by the United States Securities and Exchange Commission (SEC) body.
It is worth it to know that the OKX exchange faced a criminal probe in South Korea last month. Allegedly the exchange hired many crypto influencers in the country to promote the exchange while failing to disclose the information publicly or the corresponding authority.
This week, the OKX exchange officially confirmed that they’re going to terminate their services from the Indian crypto market citing regulatory pressure. Exchange urged the Indian customers to withdraw all the funds before 1 April.
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