Major Chinese Cryptocurrency Exchange OKCoin Begins Business in 21 U.S. States
OKCoin, once referred to as the China Big 3, announced through its official blog that it has started trading tokens and token transactions in more than 20 U.S. states.
Previously, it could only operate in California because its branch in the United States is located in San Francisco, but it is now able to conduct transactions in 20 additional states including Texas, Colorado, and Massachusetts.
Since the United States is formed by 50 different states, and because each state has its own government and laws, there are many cases where the regulation on cryptocurrency differs from state to state.
For that reason, there are only a few cryptocurrency exchanges that are permitted to operate across all states because of the need to obtain approval from each state.
In reports by CNN and others, Tim Buyn, the CEO of OKCoin, said the following:
“In order for the cryptocurrency market to demonstrate its maximum potential, it is imperative that exchanges such as OKCoin collaborate with regulatory bodies.”
In addition to OKCoin, Huobi, another major Chinese cryptocurrency exchange, has launched a U.S. version of its exchange called HBUS about two months ago.
