OKX, the world’s leading Web3 technology and cryptocurrency exchange, has today announced that it has applied for registration as a Digital Asset Service Provider in France. If granted, OKX will be able to offer a range of products and services to French citizens in compliance with local regulations.
The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) have set stringent requirements that DASPs operating in France must comply with.
Tim Byun, Head of Global Government Relations at OKX, commented: “The French DASP 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. For OKX, this application is a huge opportunity to demonstrate our commitment to support new regulatory frameworks as well as to plan for the future with MiCA coming onboard in 2024 for the entire European Union.”
France is renowned for its transparent and sound regulatory framework, which has made it a hub of crypto enthusiasts and traders. OKX is taking steps to improve its international compliance. In March, the crypto exchange announced that it would be applying for licenses to provide virtual asset services in Hong Kong and Canada. It is presently licensed in the Bahamas and had a VARA provisional license in Dubai, although the company recently announced it was ceasing all operations there.