Seychelles-based OKX Returns to US Crypto Market

The digital currency ecosystem is expanding with enhanced policies in the United States, and OKX is taking advantage of this trend to re-enter the country.

Cryptocurrency exchange OKX has decided to return to the United States following the improvement in the region’s crypto regulatory landscape. As part of this move, the exchange has appointed former Barclays director Roshan Robert as its US CEO. 

OKX Outlines Plan After US Return

According to the new CEO’s April 16 blog post, OKX’s return to the US financial market will include a phased rollout of a new crypto exchange. 

“Today, I’m thrilled to announce the launch of OKX’s centralized crypto exchange and OKX Wallet in the United States, alongside the establishment of our regional headquarters in San Jose, California,“ Robert wrote.

The phased rollout is designed to ensure smooth onboarding of new customers. Once this is done, Robert says a nationwide launch will follow later this year. To deliver a better overall experience, OKcoin plans to migrate all users to the new platform. 

This platform’s expected features are deeper liquidity, lower fees, and advanced trading tools. 

In addition to these plans, OKX is looking forward to integrating with local banks. It also intends to support major digital currencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT and USDC. 

Robert has announced that OKX maintains a global Proof-of-Reserves (PoR) for all its assets to promote transparency. Hacken, a cybersecurity firm, will publish this PoR monthly.

US Crypto Landscape Records Improvement 

It is worth noting that OKX’s re-entry into the US marks a global recognition of the pivot in the US stance towards cryptocurrencies. 

This sentiment came with Donald Trump’s election as President of the United States (POTUS). In the last three months, Republican politicians have introduced several rules and policies favoring the crypto industry. 

The new administration’s impact is evident in the turnout of previously pending crypto cases with regulators. A month ago, Ripple CEO Brad Garlinghouse announced that the US Securities and Exchange Commission (SEC) had officially dropped its class actions against Ripple Labs. This particular lawsuit had been going on for almost five years 

Robinhood, Uniswap, and Coinbase have also seen cases against their operations dismissed by the SEC. In addition to such case dismissals, the crypto ecosystem has become hopeful that more altcoin Exchange-Traded Funds (ETFs) will flood the market due to the favorable crypto regulation in the US.

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