On the air of the “Voice of China” program, it was reported that the Okex Exchange violated the laws, offering the possibility of trading crypto-currencies to Chinese citizens. This is reported by CoinDesk with reference to the site of the Chinese National Radio (CNR).
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The authors of the broadcast state that OKEx offers unregulated bitcoin futures with the possibility of using a leverage, which increases not only the potential profit, but also the risk. They also stated that OKEx de facto operates a company based in Beijing. However, registration in Belize and the location of the team in Hong Kong are only nominal. According to them, these jurisdictions were chosen to circumvent regulation by the authorities of the PRC.
The broadcast also sounded the statement that the technical support for the OKEx Exchange is provided by the Beijing-based team of the once-largest OKCoin site. At the same time, the residents of China actually have the opportunity to buy and sell the crypto currency, using the opportunities of OTC (over-counter) trade.
Note that according to Coinmarketcap data, the OKEx crypt exchange is the second in the world in terms of daily trading volume, behind only Binance.
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