OKCoin Not so OK with US Users

Bitcoin companies are lining up to enter the Canadian market, but the same can’t be said for its neighboring North American country. United States, or at least parts of it aren’t doing so great in the bitcoin sector lately. Thanks to a couple of factors, including the regulatory issues.

New York State can be taken as the best example to show how certain things are not done when it comes to bitcoin and digital currencies. New York State has already lost a lot of great cryptocurrency startups due to the regulatory and compliance requirements put forth by BitLicense. Some of the startups including ShapeShift, Eobot, Bitfinex and even Kraken have already shifted their operations from New York as they found it to be a better option than complying with BitLicense which requires the companies to spend a lot of time and resources to collect user information.

But the problems doesn’t seem to be restricted to one particular state in the United States. Recently OKCoin, a leading China based bitcoin exchange announced that it is stopping its service for US customers. Upon further enquiry regarding its decision to stop accepting bitcoin deposits from

Read more ... source: LiveBitcoinNews