OKX Hires Andrew Cuomo to Finally Win New York BitLicense

Crypto exchange OKX just made a surprising board appointment. They brought on Andrew Cuomo, the former New York governor whose administration created the famous BitLicense back in 2014. Despite being one of the largest trading platforms globally, OKX has never managed to obtain this specific state license, while several major competitors successfully did.

Obtaining approval from the New York Department of Financial Services is notoriously difficult. Other trading platforms previously complained about the strict requirements and high costs involved. OKX also has a complicated history in the United States, including a guilty plea for financial misconduct and paying substantial federal penalties for allowing American users to trade despite official restrictions.

Cuomo is not the only former New York official to join the company. OKX previously hired former NYDFS superintendent Linda Lacewell, who now serves as chief legal officer. These high profile additions arrive as the exchange pursues new joint ventures and regulatory approvals in the United States, aiming to turn the page on past compliance issues.