OKX’s Europe company—also known as OKCoin Europe, a subsidiary of crypto exchange OKX—was fined 1.05 million euros ($1.2 million) by Malta’s financial watchdog on Thursday for breaching the country’s money laundering rules.

The Financial Intelligence Analysis Unit (FIAU) said the company failed to assess the money laundering and financing of terrorism risks emanating from the products it offers and had violated parts of the country’s Prevention of Money Laundering and Financing of Terrorism Regulations.

«Regulatory compliance is a top priority for OKX, and we remain committed to meeting and exceeding global regulatory standards,» OKX said in a statement.

The company also said it had addressed gaps identified in its compliance framework following the authority’s 2023 review. In the new notice, FIAU also commended the company on making significant improvements over the past 18 months.

OKX secured the coveted Markets in Crypto Assets license (MiCA) from Malta earlier this year, which will enable it to offer crypto services across the European Union.

«The company was expected to assess the nature of risks prevalent in the services it was offering,» the authority said in its notice.

FIAU said the exchange should assess risks tied to the use of stablecoins, mixers that obscure the origins of transactions, privacy coins, tokens designed for anonymity, and tokens on decentralized exchanges.

OKX recently temporarily suspended its decentralized exchange aggregator following reports that European regulators had been looking at how it had been used to launder funds from a recent hack of the Bybit exchange.

Bloomberg first reported the story.

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2446.91, up 0.1% (+2.11) since 4 p.m. ET on Thursday.

Six of 20 assets are trading higher.

Leaders: FIL (+2.3%) and POL (+1.4%).

Laggards: APT (-5.0%) and AAVE (-2.6%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Ryan Cohen, the chairman and CEO of video retailer GameStop (GME), increased his stake in the company following the firm’s decision to add bitcoin (BTC) as a treasury reserve asset.

According to a Thursday filing to the U.S. Securities and Exchange Commission (SEC), Cohen acquired an additional 500,000 shares of the company’s Class A common stock at $21.55 per share, totaling approximately $10.78 million.

This purchase elevates Cohen’s total holdings to 37,347,842 shares, representing about 8.4% of GameStop’s outstanding shares, the filing shows.

Cohen’s purchase comes on the heels of GameStop’s board approving a plan in late March to invest part of its cash pile in bitcoin. The firm also issued $1.5 billion in convertible notes to raise funds for its BTC acquisition plan. That capital raise closed earlier this week.

GME shares are slightly up premarket trading after falling over 7% on Thursday as U.S. stocks plunged in reaction to President Trump’s tariff announcements.