CEX.IO Opens Bitcoin Exchange to US Market
Bitcoin exchange CEX.IO has expanded its operations to the US enabling customers in 23 states to deposit and withdraw fiat currency.
Citing Coinbase as its main competitor stateside, Helga Danova, chief editor at CEX.IO said that she was confident that they could become a "great alternative for US citizens and broaden the possibilities of buying bitcoin and trading other cryptocurrencies".
The US launch comes amid a continued pivot away from mining services. The company halted its cloud mining operations in January citing bitcoin's declining price as a motivating factor.
Danova noted that the mining cease was a temporary measure, as the company looked to focus on developing its exchange.
"We've been developing in this direction for a long time", she said, adding:
"CEX.IO has always been a bitcoin exchange. Even though our key advantage was cloud mining, we have offered trading of the cloud mining power for bitcoins and other cryptocurrencies."
In order to access the exchange, consumers in the approved US states and jurisdictions will have to adhere to CEX.IO compliance procedures, based on know-your-customer (KYC) and anti-money laundering (AML) standards.
To register, traders must provide a form of identification, such as a national ID card or passport.
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