OKEx to Unveil BTC Options Launch Date

To gain access to options trading, OKEx users must pass the KYC procedure and a special test
09 December 2019   281

OKEx Cryptocurrency Exchange will launch the trading of settlement options for bitcoin on December 27. Contracts will be denominated in dollars.

The exchange already offers spot and futures trading, but is not included in the list of trusted sites in terms of volume cleanliness.

The exchange's bitcoin options give traders the opportunity, but not the obligation, to buy or sell the underlying asset at the selected price within the agreed time frame.

To gain access to options trading, OKEx users must pass the KYC procedure and a test for readiness for product trading.

From December 12, the exchange will launch the product in simulation trading.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   285

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.