‘Prove your dad is your dad’: OKX defends aggressive compliance rules
2025-07-05 17:14:53
Main Idea
OKX CEO Star Xu explains the platform's strict compliance measures, including high false-positive rates and user verification requests, as necessary to meet global regulatory obligations.
Key Points
1. OKX implements stringent compliance measures to meet legal requirements across jurisdictions, including anti-terrorist financing and human trafficking prevention.
2. VPN usage, address, residency history, and employment verification are key factors triggering enhanced scrutiny on the platform.
3. The exchange acknowledges high false-positive rates where legitimate users are mistakenly flagged as risky.
4. OKX may issue warnings, request additional documentation, or freeze assets for accounts deemed high-risk.
5. Customer-facing compliance includes identity verification and transaction monitoring to avoid severe legal consequences.
Description
If OKX asks you to prove your dad is your dad, don’t take it personally—it’s just compliance. That’s according to OKX CEO Star Xu, who has issued a detailed explanation of the exchange’s compliance and risk control procedures in response to user complaints about account restrictions and verification demands. The statement acknowledges high false-positive rates and suboptimal user experience while defending the platform’s global regulatory obligations. Xu outlined that OKX’s compliance team excee...
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