OKEx is a Hong-Kong based exchange and despite The People's Bank Of China s intentions to impose strict bans on Exchanges, OKEx is the second highest trader of Bitcoin capturing 3% of the market.
Why ban Bitcoin?
The 'PBOC ' do not recognize Bitcoin as legal tender as it does not stem from a monetary institution and they fear for the worse, scams Ponzi schemes and a destabilization of the monetary system. In January of this year China’s top internet-finance regulator issued a notice asking local governments to “actively guide” bitcoin-mining operations to “orderly” quit the business.
So if China is killing Bitcoin why is OKEx not dead?
OKEx for apparently dodging regulations by registering itself in Belize, despite having a Headquarters just out of mainland China's jurisdiction.
Does this mean that they are safe?
Despite the fact that they aren't breaking any current Chinese laws, I doubt that they are going to be let off the hook that easily. Especially considering that China has not yet finished regulating Exchange regulations. OKEx is already being criticized on China National Media an established'government mouth-piece', meaning that they are not going unnoticed and it is only a matter of time before trading on OKEx is stopped entirely.
I would personally recommend switching Exchanges before you wake up broke!
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