US says OKX crypto exchange operator enters $505 million guilty plea

The operator of the OKX cryptocurrency exchange pleaded guilty on Monday to violating U.S. anti-money laundering laws and will pay nearly $505 million in fines and forfeited fees, the U.S. Department of Justice said. It entered its plea at a hearing before U.S. District Judge Katherine Polk Failla in Manhattan, who imposed the sentence. OKX is the world's fourth-ranked cryptocurrency spot exchange based on traffic, liquidity, trading volumes, and confidence in the legitimacy of reported trading volumes, according to CoinMarketCap.