Cryptocurrency exchange OKCoin has opened a branch in the United States. According to information that appeared today on the company’s website, OKCoin has launched a trading enabled the top 5 cryptocurrencies and the ability to open dollar deposits and withdraw funds in the currency of the United States.
Reportedly, the offer of the exchange includes trading bitcoin, bitcoin, cash, litecoin, ethereum and ethereum classic.
It should be noted, the exchange is a registered financial services provider: the corresponding application was filed in the U.S. division of the Ministry of Finance to combat financial crimes (FinCEN) in November last year. According to the document, the legal person performing the services is called OKCoin USA Inc. located in California’s mountain view.
At the initial stage the service is available only to investors who are residents of California as described in the application filed with FinCEN. According to information provided on the company website, on the home page which says: “Hello, USA”, residents of other States will be able to take advantage of the exchange in the near future.
Recall before the ban on cryptocurrency trading in tandem with the Chinese yuan in 2017 OKCoin among the three largest cryptocurrency exchanges in China. As you know, subsequently the company moved the business into foreign markets, shifting the emphasis towards trade crypto-to-crypto.
Huobi, another exchange of the “Big three”, a few days ago launched the auction in all 50 States through its “exclusive strategic partner” HBUS also registered with FinCEN. The exchange actively conquers new markets: in April it became known about plans to open offices for European clients in London, and in may Huobi announced the beginning of work in Canada and intentions to enter the Brazilian market. A few days ago Huobi trading platform with the ability to exchange virtual currencies on the Australian dollar was launched in Australia.
However, in the case of the US harder — Fiat currency on the American site of exchange is not presented. As previously noted, the co-founder and CEO of Huobi Li Ling (Li Lin), taking into account the specifics of American law, the availability of registration with FinCEN does not solve all the problems in the field of regulation.
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