The Chinese cryptocurrency exchange OKCoin said it has received regulatory approval to operate in 20 more U.S. states.

Previously, the company’s American unit, OKCoin USA, was only open to traders in California, where it is based and where it attracted around $700,000 in daily volume, ranking it about 125th among global exchanges, according to CoinMarketCap data quoted by CCN.

The company can now operate in Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin.

However, says CCN, only Californians can trade directly against the dollar. Traders elsewhere will have access to crypto-to-crypto trading against both bitcoin (BTC) and ether (ETH), but they will not have access to fiat markets.

With China’s cryptocurrency exchanges shut down by government order, OKCoin’s move across the Pacific makes sense. Read more here.

ThirtyK Staff
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