OKX CEO Acknowledges Possible False Positives in Compliance Affecting Some Bitcoin Users

Key Points

1. False positives in compliance checks mistakenly flag legitimate users as suspicious, a persistent issue in the crypto industry.

2. OKX CEO Star Xu admits that completely eradicating false positives is unrealistic, despite having over 600 global compliance team members.

3. False positives result from an industry tendency toward aggressive risk mitigation over user convenience, affecting compliant users who follow KYC and AML regulations.

4. OKX and other exchanges are working on strategies to improve compliance accuracy, including collaboration with regulators.

5. The issue of false positives is a broader industry challenge, highlighting the need for user-centric policies to balance security and accessibility.