California was just the beginning. After launching a Fiat-to-Token trading platform in the golden state earlier this summer, OKCoin’s surge into the US markets took another leap forward today, as we announced our expansion into 20 new states with token-to-token only trading. That means that US traders and institutional investors hailing from such far-flung states as Alaska, Texas and Maine have access to the fastest, most secure and most reliable trading platform for a wide variety of digital assets, with costs as low as 0% for makers and 0.05% for takers.
OKCoin Expands in the US
Why 20 and not all 50? We have worked closely with regulators and researched regulations in every state to ensure that we are complying with Federal and State convertible virtual currency rules. We are in the process of applying for money transmittal licenses (MTL) in the remaining States for token-to-token trading as well as 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 new states include: Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin.
“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, 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.”
OKCoin is one of the world’s first and largest regulated digital asset exchanges, with millions of users in more than 100 countries around the world. Founded in 2013, we provide traders and institutions with a fiat-to-token trading platform for digital assets including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin, with more assets coming soon. Offering fast trades and industry-leading expertise and support, our mission is to help eliminate trading barriers and improve transaction efficiency while complying with the highest regulatory standards in the US and the world.
Over the past couple of months, we’ve been overwhelmed by the positive response to our platform from users in California and the broader ecosystem entrepreneurs. We’ll be launching in even more states shortly. Stay tuned to this page or follow us on Twitter at @OKCoin to find out when.
Image Courtesy of World Atlas.
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