The OKCoin crypto exchange has just started a very new branch at the US market, where they will be able to offer trading services between the US dollar and some of the significant crypt coins in the market.
According to the company website on Friday, it is clear that the exchange has already launched a new offering and is being able to accept U.S dollars both in withdrawals and also deposits. But this is not all as investors are able to trading against the Bitcoin, Litecoin, bitcoin cash, Ethereum and also the Ethereum classic.
There Are New Developments Taking Place
For the new type of offshoot that company went ahead to fill the money service business, referred to as the MSB, a registration with the U.S Financial Crimes Enforcement Network (FinCEN), this was done in November 2017. The document also shows that the legal entity that is behind the exchange is called the OKCoin USA Inc, a company that has been based in Mountain view in California.
Unfortunately, according to the company website, the fiat crypto trading is still limited only to the investors who are located in California, which is just a small limitation that is indicated in the initial filling done to MSB.
The news also follows a report that was filled weeks ago that was revealing a similar move that was done by Huobi. A platform that recently launched a pure cryptocurrency to crypto trading service for this month. It has been available to all the 50 states that are around the U.S, but this has been dubbed on the HBUS.
Also earlier this year HBUS also went ahead to file with MSB registration with the FinCEN. But co-founder and also the chief executive of Huobi Li Lin noted that FinCEN has not been resolving all the issues that have been arising with the regulatory that usually come with operating in the U.S.
As it was reported by the CoinDesk, both Huobi and also OKCoin were among the three major exchanges that you could find in Chin, this is before the notable trading ban issue that arose by the People’s Bank of China in 2017.