Bitcoin exchange OKCoin opens Singapore office

In Singapore, the Chinese cryptocurrency exchange OKCoin has opened an office. It will serve as a hub for traders across Asia and Oceania.

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🚨 Big news ICYMI! Today we officially announce our expansion to #Singapore 🚀🎉! #Crypto traders can purchase $BTC, $ETH, $BCH, $LTC and $ETC with Singapore and US dollars. 😀👍 Learn more: https://t.co/qyAe4lBROT

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— OKCoin (@OKCoin) October 8, 2020

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Users can trade Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic in pairs with the US dollar. For SGD-denominated operations, only BTC and ETH are available.

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OKCoin noted Singapore’s efforts in regulating the cryptocurrency industry, saying authorities have found the right balance between oversight and supporting innovation.

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Since the start of 2020, crypto firms operating in Singapore have been required to register and obtain a payment-services licence. The digital-token services are subject to anti-money-laundering and counter-terrorism financing rules.

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Earlier, Singaporean authorities exempted from taxation cryptocurrencies obtained from hard forks and free airdrops, as well as those mined by individual miners.

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