• OKX is planning to become a registered Digital Asset Service Provider (DASP) in France.
• The company has incorporated OKX France and will offer products and services to customers in full compliance with local regulations.
• French authorities provide a consistent and robust approach to enable OKX to benefit from the licensing process.
OKX Files Application To Become DASP in France
OKX, the world’s second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced it has filed application in France to become a registered Digital Asset Service Provider (DASP) under the rigorous requirements set out by Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
Commitment To Growing European Presence
OKX’s decision follows the company’s incorporation of OKX France, demonstrating its dedication to growing its European presence, with France as a significant hub. Registration with the AMF will enable OKX to offer a suite of products and services to customers in France in full compliance with local regulations.
Safe & Sound Regulatory Framework
The French Digital Asset Service Provider regulation provides a clear and secure regulatory framework for digital asset service providers. Coupled with the growing number of registered DASPs in France, OKX looks forward to growing the French ecosystem in a safe and sound manner.
France As Key Player In Web3 Technologies
Beyond offering sound and transparent regulation, France has positioned itself as the European hub for OKX due to its high concentration of crypto enthusiasts and experienced traders and highly qualified workforce available for development purposes. Jean-Noël Barrot, Minister Delegate for Ministry of Economy commented that this decision confirms “France’s aspirations to become a key player in Web3 technologies”.
MiCA Coming Onboard For Entire EU In 2024
For OKX, this application is an opportunity to demonstrate their commitment towards new regulatory frameworks as well as plan for MiCA coming onboard across all EU countries by 2024. Compliance, regulation & transparency remain at forefront of this venture so that customers can trust & use their services safely & securely while expanding into other European countries soon after gaining approval from AMF.