OKX CEO explains Strict Compliance Measures
OKX CEO Star Xu has addressed user concerns about account restrictions and verification demands. He assures that these measures are not personal but necessary for compliance.
Xu explains that OKX’s compliance team, over 600 strong, works to prevent illegal activities like money laundering and fraud. The platform must meet legal requirements in all its operating jurisdictions.
VPN usage from restricted regions triggers enhanced scrutiny. Users with ties to sanctioned countries or political figures face additional verification requests.This includes proof of address and employment verification.
The challenge of “false positives” is acknowledged. Legitimate users are sometimes mistakenly flagged as risky. Advanced databases and technologies cannot guarantee 100% accuracy. Regulatory authorities encourage platforms to be cautious.
OKX has the authority to freeze assets in cases involving sanctions or terrorist activities. The exchange uses third-party databases and internal models to identify risky accounts. Customer-facing compliance includes identity verification and transaction monitoring.
Users flagged for verification receive requests for fund source documentation and address proof. Xu assures that truthful submissions won’t compromise account safety for those not involved in illegal activities.The system automatically reviews user activity against global watchlists.
OKX maintains strict data access controls and privacy protections.
