OKX, the second largest crypto exchange by trading volume has announced plans to expand its reach to Australia. This is coming days after the an Australian senator proposed a bill to come up with regulations for the crypto industry to make Australia a crypto hub.
OKX in a press release on 29 March said Australia would be a great place for the exchange to thrive in the future. “With such a significant acceptance of cryptocurrency in Australia already, we’re committed to the local market and intend to develop a robust local office,” it said in a statement.
OKX Expanding to Crypto-Friendly Climes
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OKX has been all over the place recently, expanding to crypto-friendly countries and regions. The most recent of such expansions was to Hong Kong, a region that has come up with crypto-friendly regulations with the hope of turning itself to a crypto hub.
OKX is so far just one of over 80 crypto companies that have shown interest in expanding to to the region. Apart from Seychelles where it is based, OKX also has license in Dubai among other places. If it succeeds in securing operational license in Australia, this will make it the latest country OKX will make its home.
Countries Accepting Crypto
Several countries and regions are opening their doors to crypto recently by coming up with regulations for the industry.
The U.S seems behind on this as it is doing the opposite by cracking down on several crypto companies in the last few days. More companies may be moving out of the U.s to places like Australia and Hong Kong it seems.