OKX Seeks DASP Registration in France

OKX's Strategic Move to France

OKX, the second-largest cryptocurrency exchange by volume, is taking significant steps to solidify its presence in Europe by applying for registration as a Digital Asset Service Provider (DASP) in France. This strategic move is part of OKX's broader plan to expand its European footprint, having already established OKX France in April.

Aligning with French Regulations

Registering under the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), OKX aims to provide a range of services compliant with local regulations. The French DASP regulation offers a clear and secure framework, which is crucial for OKX's operations in the region.

Enhancing the French Crypto Ecosystem

OKX's application represents a commitment to bolster the French digital asset ecosystem. France's robust regulatory framework and a high concentration of crypto enthusiasts make it an attractive hub for OKX's services. The exchange recognizes the country's experienced traders and skilled workforce as vital components for its growth.

Future Prospects with MiCA

The application aligns with OKX's forward-looking strategy, especially with the upcoming Markets in Crypto-Assets (MiCA) regulation in 2024 for the European Union. This initiative underscores OKX's dedication to supporting new regulatory frameworks and establishing France as a key hub for its digital asset services.

Government Support and Global Expansion

Jean-Noël Barrot, representing the French government, highlighted the decision as a testament to France's ambitions in Web3 technologies. OKX is already licensed in the Bahamas and holds a provisional license in Dubai, with plans to expand in Hong Kong. This move to France is a pivotal step in OKX's global expansion efforts.