In a significant regulatory move, cryptocurrency exchange OKX has intensified its anti-money laundering controls targeting Huione Group following U.S. government sanctions that identified the entity as part of a transnational criminal organization. The enhanced measures come after revelations that Huione Group allegedly laundered over $4 billion in illicit funds, prompting OKX to implement rigorous transaction monitoring and potential account restrictions for all affiliated entities.
OKX Imposes Strict AML Controls on Huione Group Following U.S. Sanctions
OKX has escalated its anti-money laundering (AML) measures targeting Huione Group after U.S. regulators designated the entity and its affiliates as part of a transnational criminal organization. The exchange will scrutinize all deposit and withdrawal transactions linked to the group, with potential account freezes or service terminations.
U.S. Treasury sanctions revealed Huione Group laundered over $4 billion in illicit funds between 2021 and 2025, while facilitating $98 billion in crypto inflows. OKX CEO Star Xu emphasized the group's "serious damage" to the crypto ecosystem, reaffirming the exchange's commitment to compliance and user protection.
The crackdown reflects broader industry efforts to align with regulatory expectations, particularly after the October 14 designations by OFAC and FinCEN. OKX's public stance underscores the growing institutional prioritization of AML protocols in cryptocurrency markets.
Standard Chartered Becomes First Global Bank to Extend Crypto Deal into EU
Standard Chartered has cemented its position as a pioneer in bridging traditional finance and digital assets by expanding its crypto custody partnership with OKX into the European Union. The MOVE marks a watershed moment for institutional crypto adoption under the EU's Markets in Crypto-Assets (MiCA) regulation framework.
The collaboration integrates Standard Chartered's bank-grade custody services with OKX's trading platform, enabling institutional clients to access exchange liquidity while maintaining assets in regulated custody. This hybrid model directly addresses regulatory concerns about counterparty risk - a key barrier to institutional participation.
"This expansion demonstrates growing regulatory comfort with bank-exchange partnerships," said Erald Ghoos, CEO of OKX Europe. The deal builds on a similar April 2025 launch in the UAE, where the firms pioneered collateral mirroring technology that combines institutional-grade security with exchange functionality.
