OKX Re-Enters U.S. Market After $500M Legal Settlement

OKX is officially entering the U.S. crypto market, unveiling plans to roll out its centralized trading platform and wallet service across the country.

The Seychelles-based exchange has chosen San Jose, California as the base for its U.S. operations and appointed Roshan Robert—formerly of Morgan Stanley and Barclays—as its U.S. CEO.

The launch marks a major move for the exchange, which is now transitioning users from its American affiliate, OKCoin, to the main OKX platform. The rollout will happen in stages, with broader nationwide access expected by the end of 2025. According to Robert, the platform aims to evolve into an all-in-one crypto solution, with new features expected throughout the year.

OKX’s U.S. re-entry comes on the heels of a costly legal resolution. Earlier this year, the company agreed to pay over $500 million in a settlement with the U.S. Department of Justice. The case centered on allegations that OKX, through its affiliate Aux Cayes FinTech Co. Ltd., operated in the U.S. without the necessary licensing. The DOJ accused the firm of serving U.S. customers despite official restrictions, including claims that staff instructed users on how to circumvent those rules.

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As part of the agreement, OKX paid $84 million in penalties and forfeited $421 million in revenue earned from U.S. users. The company stated that those accounts have since been removed from the platform and emphasized that no customer losses were involved.

The exchange’s re-entry coincides with what it sees as a more favorable regulatory climate in the U.S., with recent policy shifts under President Trump’s administration signaling a more crypto-friendly approach.

Alexander Stefanov