Cryptocurrencies just got a shot in the arm thanks to the U.S. and OKCoin.
Expansion in 20 U.S. States
A year after OKCoin was forced to closed its doors in China, it’s now making a big comeback in the U.S. In fact, it just received regulatory approval to expand in 20 states. That will allow it to greatly reach one of the world’s largest cryptocurrency 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.”
Greater U.S. Reach
In fact, the platform will be available in Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah, and Wisconsin.
In California, traders can trade cryptocurrency against the U.S. dollar.
All other states at the moment will have access to crypto-to-crypto trading against both Bitcoin (BTC) and Ether (ETH). However, they will not have access to fiat currencies.
OKCoin Not the Only One Expanding
In addition, Huobi created a new digital currency trading marketplace in the U.S. through a newly created company. Called HBUS, the platform sees about $1.7 million in daily volume.
According to Medium, “…is not an “arm,” “subsidiary,” “division,” or any type of “affiliate” of Huobi. Nor is HBUS to be referenced as “Huobi US” or any variant thereof. HBUS is the “exclusive US strategic partner of Huobi.”
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