The exchange of cryptocurrencies based in Seychelles OKX is expanding to the US, establishing a new regional headquarters in San José, California, and implementing access to its platform and its OKX native wallet to the United States crypto merchants.
In a Tuesday night ad, the newly appointed CEO Roshan Robert said that the expansion was “a commitment to responsible growth.” Robert was more recently executive of the Crypto Clst institutional loan platform, and was a founding member of the Crypto Prime Broker Hidden Road team, which was recently acquired by Ripple for $ 1.25 billion.
“As regulations evolve, OKX is working closely with regulators and US policy formulators to ensure that we will operate transparently and fulfilled,” Robert wrote. “We have created a comprehensive global compliance program based on the risk that includes an improved due diligence, a solid KYC process, customer risk rating systems, advanced fraud detection, AML tools, geo-block and market surveillance technologies. All these are part of our commitment to a safe and fulfilled commercial environment.”
Two months ago, an OKX subsidiary resolved the charges that had operated in the US. UU without a money transmission license, agreeing to pay the Department of Justice (DOJ) more than $ 500 million in fines and lost rates. The Department of Justice claimed that, despite having an official policy that prohibits US users from accessing their platform, OKX “sought customers in the United States, even in the South District of New York.”
Read more: after the lesson of $ 4.3b of Binance, do rival exchanges run the risk of conflicting the rules of the United States?
OKX is not the first cryptographic company to observe an expansion or a return to the US, which has become much more friendly for the cryptographic industry under the administration of the president of the United States, Donald Trump. Earlier this month, the launch platform of Token Coinlist announced a return to the US. After five years away, and the largest names, including Binance, the largest cryptographic exchange in the world, are considering returning to the United States.
Okcoin’s existing customers, the OKX accessible sister company, accessible to the United States, will be “migrated without problems” to the OKX platform, which will offer customers “deeper liquidity, lower rates and advanced commercial tools,” according to the company’s launch announcement.
