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OKCoin Expands Trading to 20 Additional US States

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Virtual currency exchange OKCoin has announced its extension of crypto-to-crypto trading into twenty additional U.S. states, as per an official statement published.

According to the announcement, OKCoin has expanded its trading services to the states of New Jersey, Tennessee, Alaska, Minnesota Arizona, Colorado, Idaho, Wisconsin, Illinois, Indiana, Kansas, Maine, Maryland, Michigan, Missouri, Montana, Nevada, Texas, Utah, and Massachusetts.

"OKCoin CEO Tim Buyn commented that in order for the cryptocurrency market to attain its maximum potential, big and popular exchanges like OKCoin have to work with existing and new regulators for convertible digital assets and cryptocurrencies, digital securities and digital goods."

Jim Nguyen, Vice-President of Marketing at OKCoin, commented in his blog post that the OKCoin exchange has cooperated with regulators in each of the above-mentioned states in order to abide by both state and federal laws. OKCoin CEO Tim Buyn commented that in order for the cryptocurrency market to attain its maximum potential, big and popular exchanges like OKCoin have to work with existing and new regulators for convertible digital assets and cryptocurrencies, digital securities and digital goods.

As per the announcement, OKCoin has also put an application for money transmittal licenses (MTL) for both crypto-to-crypto and fiat-to-crypto trading. After receiving the required licenses, OKCoin plans to launch its trading platform in other states.

OKCoin has also put an application for money transmittal licenses (MTL) for both crypto-to-crypto and fiat-to-crypto trading.

It is to be noted that the founder of OKCoin affiliate crypto exchange OKex Star Xu was reportedly taken into official custody in China in relation to suspected cryptocurrency skulduggery on September 11. As per the media outlet ZeroHedge, a syndicate of investors in WFEE Coin complained to local police about illicit practices at the company. Xu was taken into custody as he was reportedly a shareholder in WFEE Coin.
However, Xu got released from police questioning after a day. He repudiated the accusations of cheating. According to the reports of other media houses, the company denied that Xu had any equity involvement with WFEE. Andy Cheung, COO commented that Xu has no equity-based involvement with WFEE and its company. Though WFEE has acquired OK Blockchain Capital and several other capitals investment, the subsequent amendments to WFEE white paper and core team members have not been given notice to OKBC.

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