OAX has seen a substantial recovery this week, doubling its $0.44 value to over $0.89, and making a bid to break back over the $1 barrier it surpassed in December of last year. This recovery follows up on the announcement on February 4th that the OAX Foundation had appointed a General Counsel, Mr Paul Li, who will advise the company on legal and regulatory matters.

Hong Kong-based OAX is currently ranked #324 in the world in market cap rankings, but it is an innovative project which aims to decentralise all kinds of currency exchanges with its ANX platform, merging blockchain solutions with more traditional types of payment processing. OAX is particularly anxious to adhere to principles of strong governance and transparency, and its second Working Group meeting included a session on KYC (Know Your Customer), CTF (Counter Terrorism Financing) and AML (Anti Money Laundering).

Appointing a General Counsel to advise on these matters is a positive step forward for OAX and will help the company establish robust standards and policies. This will, in turn, help to ensure the project's long term success, and benefit the whole cryptocurrency industry. With so many different aspects of decentralised exchange to consider, including banking practices, token issue and payment processing, OAX views appropriate regulation as critical.