DUBAI : OKX, one of the world's largest cryptocurrency exchanges, is seeking regulatory approval to operate in Dubai as it plans to expand the company's Middle East operations, an executive told Reuters on Thursday. Regulation is an industry trend, OKX Global Head of Government Relations Tim Byun said.
DUBAI : OKX, one of the world's largest cryptocurrency exchanges, is seeking regulatory approval to operate in Dubai as it plans to expand the company's Middle East operations, an executive told Reuters on Thursday."We would like to get ahead of that curve and be regulated in a sound manner," he said.
Byun said he believed the SEC's move would push more applicants towards innovative regulators like Dubai's Virtual Asset Regulatory Authority . OKX Middle East said on Thursday it had received a preparatory licence from Dubai's regulator, a first step towards securing an operating licence that would allow it to serve institutional clients and investors.
OKX is regulated in the Bahamas and currently does not allow customers from the United States to use its platform due to regulatory issues.
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