U.S. based exchange is going to expand cryptocurrencies trading
On September, 19, the branch of cryptocurrency exchange OKCoin based in the USA added five new coins for trading. They include XRP, ADA, XLM, ZEC and ZRX. However, the transactions are available across the certain states.
In the USA, the exchange business is growing fast. First, the company began trading with USD and some principal cryptocurrencies. Upon receipt of approval from regulators, OKCoin expanded its crypto-to-crypto trading to other states. The Company began its activity in China that was considered to be the leading hub for trading back then. It focused on bitcoin-to-yuan transactions and then launched OKEx, which offered token-to-token pairs. When Chinese authorities imposed a ban on crypto trading, OKCoin was highly affected by it.
Today,OKEx is listed as the one of the largest exchange by trading volume. However, some critics think most trading volume is a phantom. OkCoin may face some obstacles if the U.S. regulator determines that popular coins are securities and are subject to the same regulation. In that case it will have to limit its offerings or register with the SEC as a trading broker.