CEX dot IO, a multi-functional cryptocurrency exchange, has been expanding its footprint in the United States. The firm is taking a particular interest in the institutional segment of the cryptocurrency sector. CEX dot IO now operates in 31 US states and the district of Columbia.

After launching the US offices the firm is working hard to get the license. They are trying to satisfy the appropriate checks and audits to achieve it. As a result of this, the exchange received seven new licenses. This brings it to a total of 15 licenses. The offices which already received the licenses are Alaska, Florida, Georgia, Iowa, Kansas, Maryland, New Hampshire, New Jersey, New Mexico, Oklahoma, Oregon, Rhode Island, South Dakota, Vermont, and West Virginia.

As per the source, the firm already operates in 16 non-licensed places. The places include Arkansas, California, Colorado, Indiana, Kentucky, Massachusetts, Michigan, Missouri, Montana, Mississippi, North Dakota, Pennsylvania, Utah, Virginia, Wisconsin, and Wyoming. The exchanges do not need a license as money senders. Additionally, the CEO of the firm, Alexander Kravets believes the next wave of trading in cryptocurrency markets will be driven by retail participation.

Overall, the US wants to create a positive environment for innovation. However, the priority is definitely on making sure investors are protected. Thus, many crypto-focused businesses are either withdrawing from the country or launching separate platforms. For example, Crypto wallet Abra has announced some major changes for its U.S. users due to “continued” regulatory uncertainty in the country.