The exchange has appointed Linda Lacewell as general counsel (CLO), marking another strategic move in the company's international expansion. Leiswell, who joins the OKX board in 2024, succeeds Mauricio Beugelmans. Her extensive experience is directly related to the regulation of the cryptocurrency industry - she previously served as Superintendent of the New York Department of Financial Services (NYDFS), where she modernized the cryptocurrency licensing system and led cutting-edge initiatives in the areas of cybersecurity and financial crime investigation. A strategic move in the face of regulatory demands This appointment comes at a critical time for OKX, with the exchange expanding aggressively in highly regulated markets including Europe and the United Arab Emirates. ”Linda's deep regulatory knowledge will be invaluable in the next stages of our development, ensuring that we meet and exceed the highest compliance standards globally,” OKX said. Impressive successes and ambitious plans OKX has made significant strides in recent years in expanding its global market presence. The company has obtained licenses in key jurisdictions including Dubai in 2022 and Singapore, where it launched Singapore Dollar (SGD) deposit and withdrawal services in November 2024. In early 2025, OKX received its MiCA (Markets in Crypto-Assets) license, becoming one of the first cryptocurrency exchanges authorized to provide services across Europe. Unresolved regulatory challenges Despite its impressive achievements, OKX still faces regulatory hurdles in some major markets. Due to strict compliance requirements, the exchange has not yet been able to enter markets in the US, UK, Canada and other restricted regions. In 2023, OKX withdrew its application for a Virtual Asset Service Provider (VASP) license in Hong Kong, highlighting the complexities of regulatory compliance in certain jurisdictions. Impressive growth metrics According to data from CoinMarketCap, OKX is the fifth largest exchange in the world with daily trading volume exceeding $2.3 billion. OKX's user base is also experiencing rapid growth, from 20 million in 2023 to 50 million in 2024, an impressive 150% increase. The appointment of an experienced regulatory expert to the CLO position underscores OKX's priorities in striving to meet stringent requirements in mature markets while maintaining the pace of global expansion.
