Crypto exchange OKCoin expands to 20 more US states

posted 2 months ago
It’s been nearly one year since one of the world’s largest cryptocurrency exchanges was forced to shut its doors in the wake of a government-imposed trading ban. Now, that exchange, the formerly China-based OKCoin, is eying a comeback on the other side of the globe. Now headquartered in San Francisco, OKCoin’s U.S. offshoot announced on Wednesday that it has received regulatory approval to expand into 20 new states, greatly expanding its reach into one of the world’s largest crypto markets.

“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,” said Tim Buyn, the exchange operator’s CEO. “Our team has worked diligently within the complexities of the US regulatory frameworks. We’re excited to take this major step forward as we aim to break down the barriers preventing a truly global digital asset market while adhering to long established regulations.” Previously, OKCoin USA was only open to traders in California, where it attracted around $700,000 in daily volume, ranking it about 125th among global exchanges, per CoinMarketCap.
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