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OKCoin in California | Another Crypto Exchange Moving to the US

OKCoin in California: OKCoin, an international cryptocurrency exchange, just announced that it has launched a branch within the US market offering cryptocurrency trading services between USD and several cryptocurrencies.

According to the company’s website, the crypto exchange has already launched in California and is working on getting its services approved in other states. Each state has its own guidelines, and the company is complying with the SEC’s guidelines. The company filed a money service business (MSB) with the US Financial Crimes Enforcement Network (FinCEN) back in November of 2017.

California residents are now able to deposit USD into the OKCoin system and trade for Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), and Ethereum Classic (ETC).

>> Robinhood Adds Litecoin & Bitcoin Cash

OKCoin in California: US Exchange Expansion

For the longest time, US crypto investors wanting to stick to US platforms only had two options: Coinbase/GDAX and Bittrex. Both have had their fair share of issues and failed to keep up with the growth of cryptocurrency.

To be fair, last year the market grew faster than most could keep up with, but Coinbase’s exchanges caused a lot of issues when coins were shooting up by over a hundred percent a day. When Bitcoin (BTC) hit its all-time high of $20,000 back in December of 2017, Coinbase/GDAX suffered outages that caused the sharp fall of coin prices.

Bittrex wasn’t taking new investors for nearly four months (December-April) after the explosion of cryptocurrencies. On April 10th, Bittrex opened registration for new users again, but within minutes the site was shut down. The company wasn’t prepared for the amount of traffic that instantly hit its site.

Now, it seems US investors will have more options. The Huobi Group, based in Singapore, just opened its US office. HBUS is open to all 50 states and has been working with government regulators from the start. Users must have a valid US address to create an account and accounts opened by any non-US citizens will be closed and blocked according to OFAC regulations.

And now, US investors will also have OKCoin as an option. Are you excited about this?

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Huobi Launches US Exchange HBUS

Huobi launches US exchange HBUS: Cryptocurrency exchange HBUS has officially opened for business in the US. Linked with the world’s fourth-largest crypto exchange Huobi, HBUS will signal a foothold in another major global market for Huobi.

HBUS is a “strategic partner” of Singapore-based enterprise and will not formally operate under the Huobi brand.

CEO of HBUS, Frank Fu stated: “Our strategic partner, Huobi, has grown to be the largest digital asset marketplace globally. As investors‘ acceptance of virtual currency and digital asset increases, we have seen incredibly high demand in the U.S. We are excited to launch as Huobi’s strategic partner, to serve the growing number of people participating in virtual currency trading,”

Huobi launches US exchange HBUS

HBUS will join other US exchanges such as Coinbase and Kraken and base itself out of San Fransisco.

The team behind the enterprise hope that “its user-friendly interface and extensive choice of cryptocurrencies will set it apart from its competitors, making it highly attractive to potential customers.”

It is reported to be supporting nine cryptos at launch inclusive of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash, Tether, and Civic. It is worth noting that currently, the platform does not support fiat trading pairs, though the future could tell a different story.

That pool fails to include the Huobi token which was launched in January. It seems HBUS might be keeping the best for later though, as it said that coin will serve as the basis of the “next generation financial protocol.”

Starting today, 41 States across America can use the platform but only for depositing funds at present. Trading does not officially begin until July 10 and so users cannot make withdrawals until then. The platform is unavailable in states: Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, and Washington.

>>Winklevoss Twins Hire NYSE Exec to Oversee Crypto Exchange Gemini

Huobi

Huobi has been vocal regarding its assertive expansion plans; it is building relationships with blockchain projects and has this month announced a $100 million USD investment in an effort to become decentralized. The company also recently launched a billion-dollar blockchain fund for Chinese startups

Just this month, Huobi opened an office in London and only days after it opened an exchange in Australia. Add to that, It has plans to launch an over-the-counter (OTC) trading service further into 2018.

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Huobi HBUS Signs Senior Meitu Exec Frank Fu as CEO for US Exchange

Frank Fu, a top representative from China’s top photo-retouching app, will now lead the Huobi U.S. (HBUS) team. Fu held many executive positions at Meitu Global but was most recently managing director of Meitu Global and international investment.

The Meitu executive will be joining HBUS as its new CEO and will manage the day-to-day operations of the platform’s technology development moving forward.

“I am incredibly excited about this new role that enables me to lead the expansion of HBUS in the U.S. market,” Fu told the press in an interview.

>> Huobi Expands its Operations to the U.S.

Huobi U.S. (HBUS)

In late-March, the chinese cryptocurrency exchange announced that it would be moving its operations overseas and would be opening operations within the United States.

According to the company’s website, the San-Fransico-based exchange plans on starting its trading operations early next month.

The website reads:

“As the exclusive US strategic partner of Huobi, HBUS strives to be a reliable and efficient marketplace for a rich selection of high-quality virtual currencies so that our users can be part of the open and competitive market that discovers blockchain assets with genuine potential to revolutionize the future of finance. In celebration of our launch, we are pleased to announce this BTC giveaway and zero fee trading promotion.”

HBUS is registered with the Financial Crimes Enforcement Network which is the main U.S regulator database. The company is determined to stay on top of U.S regulations and stay compliant with any new rule they may draft up. Huobi Founder, Li Lin, told the press:

“The issue is, currently there is no clear regulatory requirement for crypto-to-crypto trading platforms from the U.S. at the federal level. Other platforms like Poloniex also operate in a similar way with registration as a money service business.”

Trading on the new HBUS platform will start on July 10th and registration will begin on the 6th. The first users who sign up between July 6th and the 9th will receive 30 days of zero-fee trading.

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