Latest milestone: OKX completes registration in Bahamas and opens Nassau office

On November 3, the world's leading encryption exchange OKX announced that it has passed the "Digital Asset Registration Exchange Act" (hereinafter referred to as the "DARE Act") and obtained the approval of the Bahamas Securities Commission to officially register digital asset businesses 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 Dr. Jillian Bethel, a Bahamian native and well-known figure in the blockchain industry, as the CEO. OKX Bahamas has opened an office in Nassau and plans to fill 100 local vacancies.

The establishment of OKX Bahamas marks the latest milestone in OKX's expansion into global regulated markets.

OKX has gained the trust of more than 20 million global customers from 180 markets, and so far this year, it has achieved an average monthly spot transaction volume of more than 84 billion US dollars. 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.

Tim Byun, Head of Global Government Relations at OKX, said: "We are excited to expand our business in the Bahamas under the innovative 'DARE Act'. We are prioritizing growth in regulated markets as we look to grow our business globally. Responsible cryptocurrency activity. By working with forward-looking authorities like the Bahamas Securities Commission, we can create a safer environment for cryptocurrencies to exist.”

OKX chose the Bahamas as a strategic growth location because of the effective regulatory framework created by the Bahamian 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.

Dr. Jillian Bethel, CEO of OKX Bahamas, said: "The 'DARE Act' made the Bahamas a pioneer in digital asset adoption, and I am proud to lead the OKX Bahamas team in support of cryptocurrencies. As a gateway to the Caribbean and the wider Americas, the Bahamas is taking Forward-looking policies open new doors for local talent and global businesses, enabling the industry to thrive."

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 to serve qualified investors in the UAE and surrounding countries.

OKX is relentlessly pursuing licenses globally 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.