According to a recent official announcement, the company ‘OkCoin Exchange’ claimed that it has extended its crypto trading 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, Utah and Wisconsin.
The Marketing Vice-President the company ‘Jim Nguyen,’ declared within its official web post that the exchange has collaborated with the regulators in every state so as to fit within the each states federal and state laws.
The CEO of the company ’Tim Buyn’ adding further said:
“In order for the crypto market to achieve its full potential, exchanges like OKCoin got to work with existing and new regulators for convertible virtual currency, digital products, and/or securities.”
The announcement further states that OKCoin has conjointly applied for Money Transfer licenses ‘MTL’ for each token-to-token and fiat-to-token trading. Upon receiving the licenses, OKCoin plans to bring its commerce platform to different states.
Meanwhile, the founding father of OKCoin affiliate crypto exchange OKex Star Xu was allegedly detained in China in relevancy suspect of digital currency fraud on 9th Sept. 2017.
In line with the local media report ‘ZeroHedge,’ a bunch of investors in WFEE Coin — a corporation of that Xu was reportedly a stockholder — complained to native police concerning allegedly deceitful practices at the corporate.
However, within a day ‘Xu’ was discharged from 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’ has acquired OKBC’s (OK Blockchain Capital) along with several other capitals’ investment, the subsequently changes of WFEE white paper and team members haven’t been given notice to OKBC.”