OKCoin Expands Trading to 20 U.S. States

OKCoin’s New Trading Footprint

In a bold move, digital currency exchange OKCoin has broadened its trading services to include token-to-token exchanges in twenty additional states across the U.S. This expansion, announced on September 12, aims to tap into the growing demand for cryptocurrency trading while adhering to local regulations.

States Joined by OKCoin

As part of their latest initiative, the exchange has launched its services in the following states:

Alaska
Arizona
Colorado
Idaho
Illinois
Indiana
Kansas
Maine
Maryland
Massachusetts
Michigan
Minnesota
Missouri
Montana
Nevada
New Jersey
Tennessee
Texas
Utah
Wisconsin

Talk about a crypto road trip! This coast-to-coast expansion turns OKCoin into a nationwide player in the digital currency space.

Regulatory Collaboration

Jim Nguyen, VP of Marketing at OKCoin, emphasized that their team worked diligently with state and federal regulators. Nguyen stated, “To fully unlock the potential of cryptocurrency, exchanges like us need to play nice with regulators regarding virtual currency and digital goods.” It’s nice to see some harmony in the often tumultuous landscape of crypto regulations.

Future Plans: More Licenses on the Horizon

Adding fuel to the expansion fire, the exchange has applied for money transmittal licenses (MTL). This move aims to facilitate both token-to-token and fiat-to-token trading. If all goes according to plan, we could see OKCoin sprouting up in even more states soon, because what’s better than being a nationwide crypto hotshot?

Controversies Surrounding OKCoin

However, not all news is sunshine and rainbows. In a bizarre twist, OKCoin affiliate founder Star Xu faced allegations of digital currency fraud just a day before their announcement. Xu was reportedly detained in China after complaints surfaced about the WFEE Coin venture, where he was a shareholder. Just when you thought the crypto world couldn’t get any stranger, it does!

Fortunately for Xu, he was released within 24 hours and promptly denied all allegations. Andy Cheung, COO of OKEx, which is associated with OKCoin, added, “Mr. Xu has no equity relationship with WFEE and its company.” Talk about a sibling rivalry gone wrong!