Ontario Watchdog to Gather Info on Crypto Exchanges

According to representative of Ontario Securities Commission they received a "number of complaints" on exchanges
09 April 2018   811

Ontario Securities Commission (OSC) began to study the activities of local crypto exchanges. According to OSC representative Kristen Rose, the agency received a "number of complaints" on platforms selling cryptocurrencies that can be qualified as securities. This is reported by CoinDesk.

These platforms,  and any businesses that allow coins/tokens that are securities to trade on them, may be offside securities laws.

Kristen Rose

Representative, OSC

In accordance with local laws, exchanges are required to file an application with the OSC and be officially recognized. Thus, companies should document various aspects of their activities, including principles of corporate governance, commissions, necessary requirements for access to services and so on.

According to the publication, none of the platforms that are currently studying the OSC, is not legally recognized in Ontario. At the same time, the Commission notes that this is not yet a full-scale investigation, because at the moment "gathering information about [the platforms'] activities."

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   137

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.