OKCoin Secures Operations in 20 More Territories in U.S.

Sep 13, 2018 at 22:02

OKCoin, one of the world’s top cryptocurrency exchange has expanded its operations into 20 more states in the United States.

The company noted that it has extended trading services to the states of Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin.

“In order for the cryptocurrency market to reach its full potential, exchanges like OKCoin have to work with existing and new regulators for convertible virtual currency, digital goods, and/or securities,” Jim Nguyen, OKCoin vice president of marketing, said in a blog post.

He added that the exchange collaborated with regulators in each state in order to comply with both federal and state laws. Likewise, the company stated that it also applied for money transmittal licenses for both token-to-token and fiat-to-token trading in order to bring the platform in more states.

It can be recalled that OKCoin used to be based in China until it was forced to relocate after the country has imposed a nationwide trading ban. The platform is now headquartered in San Francisco.

Before the expansion, OKCoin was only open to traders in California with a $700,000 daily volume.