Seychelles-based cryptocurrency exchange OKX is expanded to the United States and creates a new regional headquarters in San Jose, California and rolls access to its platform and its original OKX-Book for US-based crypto traders.
In a message on Tuesday night, the newly appointed CEO Roshan Robert said the expansion was “a commitment to responsible growth.” Robert was recently a performer at the Institutional Crypto Lending Platform Clst, and was a basic team member of Crypto Prime Broker Hidden Road, recently acquired by Ripple for $ 1.25 billion.
“As the rules evolve, OKX works closely with US regulators and decision makers to ensure that we operate transparent and compatinally,” Robert wrote. “We have built a comprehensive, risk-based global compliance program that includes improved due diligence, a robust KYC process, customeriko rating systems, advanced fraud, AML tools, geo-blocking and market surveillance technologies. This is all part of our commitment to a safe, compatible trade environment.”
Two months ago, a subsidiary of the OKX charges that it had operated in the United States without a money transferring a license and agreed to pay the Department of Justice (DOJ) over $ 500 million in sanctions and lost fees. DOJ claimed that despite having an official policy that banned US-based users from accessing its platform, OKX sought “customers in the US, including in the southern district of New York.”
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OKX is not the first crypto company to see an expansion or a return to the United States, which has grown significantly more friendlier to the crypto industry under US President Donald Trump’s administration. Earlier this month, token -launch platform coinlist announced a return to the United States after five years away, and bigger names – including binance, the world’s largest crypto exchange – is reportedly considering returning to the United States
Existing customers in OKCOIN, the US-available sister company in OKX, will be “seamlessly migrated” to the OKX platform, which will offer customers “deeper liquidity, lower fees and advanced trading tools,” according to the company’s launch message.
