Crypto exchange OKCoin announces Stateside expansion

Digital currency exchange OKCoin is expanding its token-to-token trading platform beyond California into 20 new US states: Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin.

Working with regulators

“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,” comments Tim Buyn, OKCoin 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.”

“In a further attempt to bring a similarly regulated trading platform to the remaining states, we are applying for money transmittal licences (MTL) for both token-to-token and fiat-to-token trading. We will prudently open up trading in additional states once we obtain either an MTL or clarity that token-to-token trading is permissible,” the company states.

“Over the past couple of months, we have been overwhelmed by the positive response to our platform from users in California and the broader ecosystem entrepreneurs. We will be launching in even more states shortly.”