[China] The cryptocurrency exchange OKCoin expands its operations to 21 states in the United States
OKCoin, a Chinese cryptocurrency exchange, expands operations and enters 21 US states!
As of now (September 17, 2018),OKCoin is announcing bold leverage trading and a service allowing use of US dollarsand is drawing attention.
OKCoin is a major cryptocurrency exchange in China, which has even ranked in the top three by trading volume at times in the rapidly developing crypto industry.
However, OKCoin does not support Japanese language, so its domestic name recognition in Japan is still low, but since it was established in China in 2013, it is considered a trusted exchange within the cryptocurrency community.
Therefore, this announcement has a high likelihood of being trustworthy.
Reasons OKCoin is expanding its operations in the United States
OKCoin’s 21 states in the United States
OKCoin’s reason for expanding in the United States is to allow investors and traders based in distant states like Alaska, Texas, and Maine to use the most secure and reliable trading platform at zero cost.
OKCoin originally offered trading only in California, USA.
Therefore, by expanding its scale, trading will be possible in 21 states.
Additionally, OKCoin has already applied for both cryptocurrency trading and fiat currencyremittance license (MLT)as part of its operations.
However, obtaining the remittance license that OKCoin applied for is considered difficult in the United States.
This is because the United States consists of 50 different states, each with its own distinctive laws, making regulation and application challenging.
On the other hand, if they can operate smoothly in 21 states, OKCoin’s expansion into 21 states in the United States would make it the first Chinese company to do so, potentially increasing trading volume and the overall price of cryptocurrencies.
OKCoinSEO’s Ottim Baum’s remarks are also worth checking!
With OKCoin’s expansion into the United States, OKCoin CEO Tim Buyn (Tim Buyn) stated the following.
Exchanges like OKCoin are indispensable for maximizing the latent potential of the cryptocurrency market, and we must work with existing and new regulators for cryptocurrencies, digital assets, and securities.
We have studied the complex and strict regulatory framework in the United States and arrived at this day (the day of expansion).
Because our goal is to break down barriers that truly hinder a global digital asset market, we are delighted to take this step that enables borderless activity without being bound to a single country.
Quotation:Global Coin Media - Cointelegraph
OKCoin is best known as a cryptocurrency exchange that strictly adheres to the law.
This time as well,to read more, see below
>>>View on the official Cryptocurrency Trivia site
