Hong Kong-based cryptocurrency exchange OKCoin announced this week that is has expanded token-to-token trading to 20 more states in the U.S. after launching its fiat-to-token trading platform in California earlier this summer.
Token-to-token trading is now live in 20 more states! OKCoin continues to work with local laws and regulators to ensure we operate a fully regulated exchange. https://t.co/dJ63vKWScX#Cryptocurrency #Exchange #Trading
— OKCoin (@OKCoin) September 12, 2018
In the announcement, OKCoin states that investors within the qualifying locations may now trade a wide variety of digital assets, with trading fees as low as 0% for makers and 0.05% for takers.
Trading is now available to investors in the following states: Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin.
In a statement accompanying the announcement, OKCoin USA CEO Tim Byun emphasized that crypto exchanges must work with local regulators in order to reach their full potential, especially when operating within the United States.
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.
Interestingly, the news comes the same week that OKEx founder and OKCoin CEO Star Xu was taken into custody for voluntary questioning in relation to fraud allegations surrounding his relationship with scamcoin WFEEcoin.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.