According to a recent official announcement, the company ‘OkCoin Exchange’ claimed that it has extendedits cryptotrading services to the new states which would be including Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas,Utahand Wisconsin.
The Marketing Vice-Presidentthe company ‘Jim Nguyen,’declaredwithin its official webpost that the exchange has collaborated with the regulators ineverystateso astofitwithin the each statesfederal and state laws.
The CEO of the company ’Tim Buyn’ adding further said:
“In order for the crypto marketto achieveits full potential, exchanges like OKCoingot towork with existing and new regulators for convertible virtual currency, digitalproducts, and/or securities.”
The announcement further states that OKCoin hasconjointlyapplied for Money Transfer licenses ‘MTL’ foreachtoken-to-token and fiat-to-token trading. Upon receiving the licenses, OKCoin plans to bring itscommerce platform todifferentstates.
Meanwhile, thefounding father ofOKCoin affiliate crypto exchange OKex Star Xu was allegedly detained in China inrelevancysuspect ofdigital currency fraud on9th Sept. 2017.
In line withthe localmedia report ‘ZeroHedge,’a bunchof investors in WFEE Coin —a corporationofthatXu was reportedly astockholder— complained tonativepoliceconcerningallegedlydeceitfulpractices atthe corporate.
However, within a day ‘Xu’ wasdischargedfrom police questioning, denying the allegations of fraud.
Mentioning further the COO of the company ‘Andy Cheung’ said that:
“Mr. Xu has no equity relationship with WFEE and its company.Though ‘WFEE’ hasacquiredOKBC’s (OK Blockchain Capital) along with several other capitals’ investment, thesubsequentlychanges of WFEEwhite paperand team membershaven’tbeen given notice to OKBC.”