We are thrilled to share that OKCoin expects to be the first to list STX tokens in the US and will support the Stacks 2.0 release as a launch partner. The OKCoin team have been long-time supporters of the Stacks ecosystem and we’re extremely happy to have them supporting both the STX listing and BTC rewards via Stacking for users, upon the release of mainnet by independent miners.
The Stacks ecosystem and OKCoin share a deep commitment to compliance, protecting users, and maturing the overall industry. OKCoin will play a key role in helping STX complete its historic compliance journey, giving U.S. based purchasers secondary-market access to STX for the first time. Along with some of the lowest fees in the industry and direct fiat-to-crypto options for traders, OKCoin will also make it seamless for users to participate in the novel Stacking function, providing an entirely new way to safely and securely earn bitcoin.
Estimate Stacking earnings and learn more about the requirements here. OKCoin plans to provide pooling options for users that don’t meet the dynamic minimum token threshold.
As one of the largest, most widely-used digital asset exchanges, OKCoin’s dedication to compliance along with the willingness to explore an asset with a first-of-its-kind path through securities regulation like STX, is invaluable to the industry at-large. OKCoin’s decision to list follows Blockstack PBC sharing a summary of a legal memorandum supporting its plans for the Stacks cryptocurrency (STX) to no longer be considered a security under U.S. law after the launch of the Stacks 2.0 blockchain.
The summary is of a memorandum issued by Blockstack PBC’s independent outside securities counsel, Wilson Sonsini Goodrich & Rosati, PC (WSGR), and outlines how the anticipated change of status will permit mining to occur on the Stacks 2.0 blockchain without having a registration statement in effect, and how it will permit U.S. persons to trade Stacks tokens on non-securities exchanges.
Blockstack Founder, Muneeb Ali said: “This is an unprecedented moment for the Stacks cryptocurrency, as US markets open up with the new decentralization legal framework. OKCoin was the perfect fit to be the first to list STX in the U.S. OKCoin is a top exchange for fiat on-ramps and their efforts to build a responsible financial ecosystem for digital currencies align closely with our own commitment to compliance and helping mature the industry.”
Commitment to user ownership is a key value OKCoin and the Stacks community share, each working in complementary ways to build a better internet that serves its users and unlocks new possibility. As part of that ongoing work, OKCoin, Blockstack PBC (soon to be Hiro), and likely other Stacks ecosystem entities plan to collaborate on a number of campaigns, educational content, and events between now and the launch of the Stacks 2.0 blockchain. Further information about the Stacks 2.0 launch event will be shared in the coming weeks, those interested can register at stacks2.com.
OKCoin is one of the largest and most trusted fiat-to-crypto trading platforms in the world. Founded in 2013, OKCoin offers cutting-edge features for professional, high-volume traders and crypto beginners alike, enabling users in 184 countries worldwide to easily, quickly and securely exchange US dollars and the euro for Bitcoin, Tethers, USDK, Bitcoin Cash, Ethereum, Ethereum Classic, Decred, EOS, Litecoin, XRP, Cardano, 0x, Stellar, Zcash, TRX, and other digital assets. As a registered Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) and a Virtual Financial Asset Act (VFAA) exchange with a transitory provision permissioned by the Malta Financial Services Authority, OKCoin is on a mission to make digital assets accessible to the world while complying with the highest of regulatory standards. For more information, visit https://www.okcoin.com.
Blockstack PBC is not registered, licensed, or supervised as a broker dealer or investment adviser by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or any other financial regulatory authority or licensed to provide any financial advice or services.
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. These statements involve risks, uncertainties, assumptions, and other factors that may cause actual results or performance to be materially different. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.