OKEx announces plans to expand to more than 20 new states

OKEx announces plans to expand to more than 20 new states

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Answer OKEx announces plans to expand to more than 20 new states

One of the most popular cryptocurrency exchanges “OKEx” announced in an official statement its plans to expand into new regions and comply with the laws in these regions.

Under this announcement, the OKEx platform will provide its services in a number of US states for the first time: Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee and Texas. Utah and Wisconsin.

The platform’s deputy marketing, Jane Nguyen, stated that the platform has cooperated with regulators in each state in order to comply with specific federal and state laws.

Platform CEO Tim Bowen added: “In order for the cryptocurrency market to be fully embraced, platforms like OKEx must work with regulations and laws to provide cryptocurrency trading and other financial services.”

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The official statement stated that the platform had applied for obtaining the necessary funds transfer licenses (MTL) in order to provide the service of trading against currencies, and indicated that it plans to provide this service in other countries.

It is worth noting that a number of news emerged about the detention of the founder of OKEx subsidiary OKCoin, Star Chu, in China in connection with an alleged cryptocurrency fraud.

The sources indicated that a group of investors in WFEE Coin – a company that Zhou had previously invested in – turned to the local police to complain about the alleged fraudulent practices.

Read:The founder of Ethereum reveals the mistake he doesn’t want to repeat with the Ethereum 2.0 upgrade

However, Zhou was released within 24 hours denying the fraud allegations and OKEx also denied that the CEO had any investments in his WFEE Coin personally.

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