OKX has named Linda Lacewell as its new Chief Legal Officer (CLO) following the exit of Mauricio Beugelmans.
Lacewell joined the cryptocurrency exchange as a board member last year, having previously held the position of Superintendent and led the New York Department of Financial Services.
“Her leadership is crucial as we venture into significant markets such as Europe and the U.A.E.,” stated OKX.
This announcement came a day after it was reported that Lacewell’s predecessor, Mauricio Beugelmans, had departed from OKX, with his exit tied to the exchange’s payment of over $500 million in penalties to the U.S. Department of Justice (DOJ), as per an insider.
The DOJ indicated that OKX had been involved in over $5 billion of “suspicious transactions and criminal proceeds.”