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OKX’s international chief compliance officer, Patrick Donegan, left in January after simply 6 months in post.
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Donegan, whose duties consisted of anti-money laundering, handled a group of 300.
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The worldwide chief compliance officer and head of anti-money laundering efforts for OKX, Patrick Donegan, left his function at the second-largest cryptocurrency exchange after simply 6 months in the task, according to his LinkedIn profile
Donegan handled a group of 300 individuals all over the world, signed up with OKX in August 2023 and left in January 2024, his profile states. He explained himself as a regulative expert on AML with “abilities in developing policies and treatments, conference regulative expectations while promoting organization efforts and developing strong relationships with regulators.”
Crypto exchanges are coming under pressure to get their homes in order when it pertains to things like combating cash laundering. Most just recently, crypto exchange KuCoin and 2 of its creators were charged with breaking anti-money laundering laws by U.S. federal district attorneys. In November of in 2015, U.S. authorities settled comparable charges versus Binancethe world’s biggest crypto exchange by trading volume.
Donegan was formerly primary compliance officer and senior vice president at the when crypto-friendly Signature Bank, where he has actually served for practically 8 years.
Neither OKX nor Donegan reacted to ask for remark.
Modified by Nick Baker.