OKEx Korea to Delist Anonymous Coins Due to FATF

Monero, ZCash, DASH, Horizen and Super Bitcoin won't be supported starting from 10th of October
16 September 2019   426

The Korean division of the OKEx cryptocurrency exchange has announced the delisting of five anonymous coins, as they violate FATF standards.

On October 10, the site will stop supporting Monero, ZCash, DASH, Horizen and Super Bitcoin.

Recall that the FATF obliged the bitcoin exchange and other cryptocurrency service providers (VASPs) to follow AML and CFT procedures similar to traditional financial companies.

VASPs must exchange the personal data of participants in transactions and information about the balance of their wallets.

OKEx Korea emphasized that anonymous cryptocurrencies will not allow the exchange to comply with these rules.

OKEx to Launch BTC Options Trading for Some Clients

The company says that option trading will allow users to implement a variety of strategies; the customers were choosen initially
26 December 2019   209

This Thursday, the OKEx cryptocurrency exchange announced the launch of bitcoin options on its main platform after the successful completion of the trading period in simulation mode.

The tool is currently available to a limited number of customers who have received invitations. Its full launch will take place on January 9, 2020.

The company says that option trading will allow users to implement a variety of strategies, from simplified to advanced, and present a complete update of the platform architecture, which is characterized by increased speed and reliability.

The OKEx Options platform will use an enhanced anti-manipulation mechanism based on the Black-Scholes pricing model. This model implies that if the underlying asset is traded on the market, then the option price on it is implicitly set by the market itself.

Unlike futures, where both parties are required to fulfill the terms of the contract, the option gives its buyer the right, but not the obligation, to buy or sell the asset at a predetermined price at a certain point in the future. In this case, the option seller cannot refuse to fulfill the terms of the contract. He compensates for additional risks with the premium that the buyer gives him when concluding the contract.

Options are a unique instrument that enables traders to manage, price and hedge the volatility of crypto assets [...] to take advantage of more than just market direction. We welcome clients from different segments, especially from our institutional clients, who have shown the fastest-growing demand in derivatives trading, especially on futures and perpetual swaps.

 

Lennix Lai

Financial market director of OKEx

 

He also promised that in 2020 OKEx will introduce new products and technological achievements to its customers.

In addition to options, OKEx currently supports leverage on the spot market, as well as futures and perpetual contracts.