Crypto exchange OKX is seeking to attract new users after it received permission to operate in the Bahamas.

OKX is licensed for crypto assets in the Bahamas now. In the next 12 months, the company will be hiring up to 100 employees.

OKX's choice fell on the Bahamas due to a strong regulatory framework. The OKX Regional Center was created to serve a variety of crypto investors and traders, including Latin America and the Caribbean, where the crypto industry is developing very actively.

Jillian Bethel, CEO of OKX's Bahamas office, believes that the Seychelles-based exchange operator also finds a crypto exchange convenient and useful for attracting new users, starting with Mexico. Also, it claims that OKX seeks to operate in a regulated space.

However, at the moment, most crypto companies are downsizing. Cryptokitties, Dapper labs laid off 22% of employees in order to reorganize the business, and Bitmex laid off 30%. According to preliminary data, about 5,000 people lost their jobs, and Coinbase became the leader in the number of laid off employees.

Also, it became known why Roskomnadzor blocked the OKX crypto exchange.