(Reuters) - The operator of the OKX cryptocurrency exchange pleaded guilty on Monday to violating U.S. anti-money laundering laws by operating an unlicensed money transmitting business, and agreed to pay more than $504 million in penalties, federal prosecutors said.

Aux Cayes Fintech Co, a Seychelles-based entity, entered the plea before U.S. District Judge Katherine Polk Failla in Manhattan, prosecutors said.

(Reporting by Jonathan Stempel in New York)