Nikolas Sargeant
OKX, a leading cryptocurrency exchange, has appointed Linda Lacewell, former Superintendent of the New York Department of Financial Services (NYDFS), as its new Chief Legal Officer to strengthen regulatory compliance amid global expansion efforts.
Strategic Leadership Change Amid Regulatory Challenges
OKX has welcomed Linda Lacewell as its new Chief Legal Officer, replacing Mauricio Beugelmans who served in the position for nearly two years. Lacewell, who joined OKX's board in 2024, brings valuable regulatory experience from her tenure at NYDFS, where she supervised banking, insurance, and financial institutions throughout New York State.
During her NYDFS leadership, Lacewell modernized New York's cryptocurrency licensing framework while spearheading initiatives focused on cybersecurity and financial crime prevention. Her appointment comes at a crucial time as OKX continues expanding into key markets including Europe and the United Arab Emirates.
Global Expansion Through Regulatory Compliance
As one of the world's largest cryptocurrency exchanges by trading volume, OKX has been actively securing regulatory approvals across multiple jurisdictions. The company expects Lacewell's expertise to help navigate evolving regulatory landscapes as it adapts products for different regional markets.
This appointment reflects a growing industry trend of cryptocurrency firms recruiting former regulators for legal and compliance roles amid increased regulatory scrutiny worldwide. Lacewell's background positions OKX to address complex regulatory requirements during its continued global expansion.
Recent Legal Challenges Facing OKX
The leadership change follows significant legal troubles for OKX's operator, Aux Cayes FinTech Co, which recently pleaded guilty to violating US anti-money laundering laws. The company agreed to pay $505 million in fines and forfeitures after prosecutors revealed that between 2018 and early 2024, the exchange facilitated over $1 trillion in transactions, including approximately $5 billion linked to suspicious or criminal activities.
Despite policies prohibiting service to US customers, the exchange allegedly encouraged users to circumvent these restrictions. Additionally, Thailand's Securities and Exchange Commission filed a criminal complaint against OKX's operator and nine individuals in March for allegedly operating an unlicensed digital asset exchange in violation of local regulations.
