OKX, a leading Web3 technology company and the world's second-largest cryptocurrency exchange by trading volume, has announced its submission of a registration application to operate in France as a Digital Asset Service Provider (DASP). This move aligns with the stringent regulatory requirements set by France's Financial Markets Authority (AMF) and Prudential Supervision and Resolution Authority (ACPR).
Expanding European Presence Through France
The registration follows OKX France's establishment in April, underscoring the company's strategic focus on European expansion. By designating France as a regional hub, OKX aims to offer a comprehensive suite of regulated products and services to French clients.
Key Statements from OKX Leadership
Tim Byun, Head of Global Government Relations at OKX, emphasized:
"France’s DASP framework provides clarity and reliability for digital asset providers. Joining other registered DASPs, OKX is committed to fostering a secure ecosystem while preparing for MiCA regulations across the EU by 2024."
French Government Support
Jean-Noël Barrot, French Minister Delegate for Digital Transition and Telecommunications, commented:
"OKX’s choice of France reflects our leadership in Web3 innovation. Our regulatory approach ensures resilience and security, reinforcing President Macron’s vision since 2017. France is poised to become a global Web3 leader."
Compliance and Transparency Initiatives
OKX prioritizes regulatory adherence through:
- Enhanced compliance teams
- Active anti-fraud measures
- Monthly Proof of Reserves for real-time solvency verification
👉 Explore OKX’s transparency tools
Global Licensing Strategy
Beyond France, OKX holds:
- Bahamas license
- Provisional VARA license in Dubai
- Pending applications in Hong Kong
Hong Fang, OKX President, stated:
"Collaborating with European regulators, including the AMF, allows us to deliver secure trading solutions. We’re excited to showcase our Web3 innovations in France."
About OKX
With 50M+ users globally, OKX is a top-tier crypto exchange offering:
- OKX Wallet: A self-custody solution for DeFi, NFTs, and dApps
- Partnerships: Manchester City FC, McLaren F1, and Tribeca Festival
FAQ Section
Q: What services will OKX offer in France?
A: Registered products include crypto trading, staking, and institutional solutions under AMF guidelines.
Q: How does OKX ensure fund security?
A: Through monthly reserve audits and advanced anti-fraud protocols.
Q: When will MiCA affect OKX’s operations?
A: Full EU compliance is targeted by 2024, with France serving as a regulatory model.
👉 Learn about OKX’s global compliance
Disclaimer: This content is informational only and not financial advice. Digital assets carry risks; ensure they align with your investment goals.
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