OKX Eyes Expansion In Australia, Hong Kong Markets
Just a week after exiting the Canadian market, OKX digital asset exchange has announced plans to expand into Australia and Hong Kong.
The exchange revealed in its announcement that it had established a Hong Kong entity to launch digital asset services in the city-state. It has also applied for a license under a new anti-money laundering ordinance that will go into effect on June 1, 2023.
The exchange has been working for over a year to establish operations in Hong Kong, it added. It sees the city as a key destination for digital asset investors and hopes to take advantage of the city’s maturing regulations.
The exchange has yet to obtain an Australian license or register with AUSTRAC, Australia’s financial intelligence agency.
While OKX expands into Hong Kong and Australia, it announced days ago that it was leaving the Canadian market, accusing tough new regulations for the exit.
(With inputs from Shikha Singh)
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