OKX completes registration in Bahamas and opens Nassau office

Original source: OKX

On November 3, the world's leading encryption trading platform OKX announced that it has passed the "Digital Assets Registered Trading Platform Act (hereinafter referred to as the "DARE Act"), and obtained the approval of the Bahamas Securities Commission to officially register the digital asset business in the Bahamas. The Act, the latest digital asset legislation in the Bahamas, establishes a comprehensive regulatory framework for digital assets and will come into effect at the end of 2020.

At the same time, OKX established a new subsidiary in the Bahamas - OKX Bahamas, and appointed Bahamian locals, blockchain industry Well-known figure Dr. Jillian Bethel is the CEO. OKX Bahamas has opened an office in Nassau and plans to fill 100 local vacancies.

The establishment of OKX Bahamas is the latest milestone in OKX's expansion into regulated markets around the world.

OKX has gained the trust of more than 20 million global customers from 180 markets, and has achieved spot trading volume so far this year An average monthly performance of more than $84 billion. In the Bahamas, digital assets are increasingly becoming part of the local economy. The establishment of OKX Bahamas will continue to meet the growing demand for cryptocurrency investment and trading in the region, such as investors and traders in Latin America and the Caribbean, and provide users with better services.

From left to right: Ianthe, Chief Compliance Officer, OKX Bahamas Tynes; The Honorable Senator Michael Chalkitis, Secretary of Economic Affairs and Leader of Government Affairs, Senate; Dr. Jillian Bethel, CEO, OKX Bahamas; Tim Beaune, Global Government Relations Officer, OKX

Tim Byun, Head of Global Government Relations at OKX, said: “We are excited to expand our presence in the Bahamas under the innovative DARE Act. We are prioritizing our presence in regulated markets. Business growth as we look to enable responsible cryptocurrency activity globally. By partnering with forward-looking authorities such as the Bahamas Securities Commission, we can create a safer environment for cryptocurrencies to exist."

Senate Minister for Economic Affairs and Leader of Government Affairs, Senator Michael Chalkitis

OKX chose the Bahamas as a strategic growth location because of the effective regulatory framework created by the Bahamas Securities Commission. As a renowned international business and financial center, the Bahamas is becoming a global leader in digital assets through its progressive legislative and regulatory structure.

OKX Bahamas CEO Dr. Jillian Bethel said: "The DARE Act has made the Bahamas a pioneer in digital asset adoption, and I am thrilled Proud to lead the OKX Bahamas team in support of cryptocurrencies. As the gateway to the Caribbean and the wider Americas, the Bahamas is opening new doors with forward-looking policies for local talent and global businesses, allowing the industry to thrive."

Dr. Jillian Bethel, CEO of OKX Bahamas

It is worth noting that before being approved for registration in the Bahamas, OKX had just obtained a temporary license from the Virtual Assets Regulatory Authority (VARA) in Dubai for qualified investments in the UAE and surrounding countries or service.

OKX is going global No effort is spared in seeking a license as part of its mission to provide responsible crypto trading and investing globally. In addition to licensing, OKX is committed to driving responsible cryptocurrency and Web3 adoption through a series of high-profile partnerships, including partnerships with Premier League champions Manchester City FC, McLaren F1, golfer Iraq The collaboration of Erin Poulter, Olympian Scotty James and F1 driver Daniel Ricciardo, among others.

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