OKCoin Exchange Launches in US With Fiat-to-Crypto Trading

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Cryptocurrency exchange OKCoin has established a branch in the U.S. Market to offer trading solutions between U.S. Dollars and many major cryptocurrencies. According to OKCoin’s web site On Friday, the exchange already began the new offering with assistance of U.S. Dollars deposits and withdrawals as well as trading against bitcoin, bitcoin money, litecoin, ethereum and ethereum classic. The company has filed a money services business registration with the U.S. Financial Crimes Enforcement Network in November 2017. The document shows that the legal entity behind the market is named OKCoin United States Inc. And is based in Mountain View, California. But, OKCoin claims on its web site that the fiat-to crypto trading service is currently limited to investors in California.

The company Also indicated in its first MSB filing that it intends to operate the action in its home state first. The news follows a record weeks ago that indicated a comparable move from Huobi, who found a crypto-to crypto trading service this month for all 50 states in the U.S. Via a partner dubbed HBUS. Earlier this season, HBUS also filed a MSB registration with the FinCEN. But, Li Lin, co founder and general manager of Huobi noted at that time that enrolling with the FinCEN doesn’t solve all of the possible regulatory problems which come with working inside the U.S.

As previously reported by CoinDesk, OKCoin and Huobi were once two of the leading 3 crypto trades in China before the trading ban issued by the People’s Bank of China in 2017. After the regulator’s clampdown, the trades altered their businesses abroad with a concentrate on crypto-to crypto trading. See MSB listing below: OKCoin US Inc. MSB registration from CoinDesk on Scribd. US dollar picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sources:
coindesk.com
indicated
filed
OKCoin US Inc. MSB Registration
CoinDesk
US dollar
strict set of editorial policies

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