OKX Global Legal Head Resigns... Initiates Legal Department Restructuring

Uk Jin

Summary

With the resignation of Melissa Mullfeldt, OKX's Global Legal Head, OKX is reported to be entering a legal and compliance personnel replacement phase and restructuring its legal department.
These changes are said to have been made following a $500 million settlement related to plans to enter the U.S. market.
Meanwhile, OKX has appointed former head of the New York Financial Authority Linda Lacewell as the new Chief Legal Officer, planning to reorganize the company's legal and compliance departments.

Cryptocurrency exchange OKX is embarking on a major organizational restructuring.

On the 27th (local time), cryptocurrency-focused media outlet CoinDesk reported that Melissa Mullfeldt, OKX's Global Legal Head, has officially resigned.

Mullfeldt joined OKX as the Deputy General Counsel for the U.S. branch in May 2022 and was promoted to Global Legal Head last August.

However, after OKX entered into a $500 million settlement following its plans to enter the U.S. market this February, the exchange began replacing key legal and compliance personnel. Those being replaced include Mullfeldt, Chief Compliance Officer Mauricio Vegelmans, and Chief Compliance Officer Vanessa Zhang.

Meanwhile, with Mullfeldt's resignation, it appears that OKX's legal department is undergoing a significant restructuring. Previously, OKX appointed Linda Lacewell, former head of the New York Financial Authority, as the new Chief Legal Officer (CLO). A source explained that "Lacewell CLO will reorganize the company's legal and compliance departments."