On the air of the "Voice of China", it was reported that the OKEx exchange violated the laws, offering the possibility of trading cryptocurrencies for Chinese citizens. This is reported by CoinDesk.
The authors of the broadcast state that OKEx offers unregulated bitcoin futures with the possibility of using a leverage, which increases not only the potential profit, but also the risk. They also stated that OKEx de facto operates a company based in Beijing. However, registration in Belize and the location of the team in Hong Kong are only nominal. According to them, these jurisdictions were chosen to circumvent regulation by the authorities of the PRC.
The broadcast also said that the technical support for the OKEx exchange is provided by the Beijing-based OKCoin team. At the same time, the residents of China actually have the opportunity to buy and sell the cryptocurrency, using the opportunities of OTC (over-the-counter) trade.
OKEx is the second largest cryptocurrency exchange, according to the Coinmarketcap data.