2024

OKX is bringing its services closer to home for Australian traders. Oscar Piastri, representing McLaren Racing, broke the news at a Sydney media event on May 14. 
OKX President Hong Fang sees great potential in the Australian market. She believes it’s often overlooked but is filled with educated and tech-savvy investors hungry for innovation. 
The exchange plans to offer a whopping 170 crypto trading pairs to Australian users. Plus, they are introducing options trading alongside spot trading, making it a comprehensive platform. 
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 Breaking news on OKX down under, announced by McLaren Racing driver <a href="https://twitter.com/OscarPiastri?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@OscarPiastri</a> 🧡 We've officially launched OKX exchange services in Australia 🇦🇺 <a href="https://twitter.com/OKXAustralia?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@OKXAustralia</a> We're now the largest global crypto exchange offering AUD on ramps &amp; spot trading pairs. <a href="https://t.co/aAyBmLFLtd" target="_blank">pic.twitter.com/aAyBmLFLtd</a>— OKX (@okx) <a href="https://twitter.com/okx/status/1790230626953797836?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 14, 2024</a>
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Australian regulations mean users must pass certain assessments to ensure they’re suitable investors. Despite these challenges, Fang commends Australian regulators for their transparent approach.&nbsp; 
While some features had to be adjusted to meet local regulations, OKX remains optimistic about its future in Australia. They see it as a key market for growth, and with their move towards compliance, Australian traders can expect a more tailored and secure trading experience. 
OKX opened an office in Australia last year because they saw a big interest in crypto there. Since March 20, the exchange’s Australian operations have transitioned from a Seychelles-based firm to two onshore entities: OKX Australia Pty Ltd for crypto exchange and fiat services and OKX Australia Financial Pty Ltd for derivatives and margin products.&nbsp; 
Australian regulations require local users to undergo a suitability assessment and be classified as wholesale clients under the Corporations Act 2001. Despite these regulatory challenges, Fang commended Australian regulators for their transparent engagement.&nbsp; 
OKX has ceased offering copy trading, yield-bearing products, and trading of certain tokens to comply with local laws, making unsupported token withdrawals only since March 20. 
The expansion of OKX into the Australian market heralds a new era of opportunity for local traders. With a comprehensive platform offering 170 crypto trading pairs and options trading, Australian investors gain access to a diverse range of assets. Enhanced regulatory compliance ensures a tailored and secure trading environment, fostering trust and confidence among Australian traders as they navigate the evolving crypto landscape. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/12/okx-backs-blade-of-god-x-ai-gaming-with-investment/" target="_blank" rel="noreferrer noopener">OKX Backs “Blade of God X” AI Gaming with Investment</a> 
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OKX Expands to Australia with Local Regulated Entity Launch

The Crypto Times

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