Crypto exchange OKX has announced that it has applied to become a registered digital asset service provider (DASP) in France.
🇫🇷 We’re thrilled to announce that #OKX has chosen France as our European hub & are seeking regulatory approval. 👌
🏗️ Together with the vibrant French community, we aim to foster dynamic partnerships & bring groundbreaking projects to life. 🤝
More 👉 https://t.co/KrPW89TXHO pic.twitter.com/lWk28ELPWx
— OKX (@okx) May 23, 2023
The company’s decision to obtain registration with the French Financial Market Supervisory Authority (AMF) follows the opening of OKX France in April.
The license from AMF will allow OKX to offer a range of products and services to customers in full compliance with local regulations. The exchange also plans further work with the entry into force of MiCA rules in the EU.
OKX noted that France is an important crypto hub due to its high concentration of industry enthusiasts, experienced traders and a skilled workforce.
“French DASP regulation provides a clear and secure regulatory framework. Combined with the growth in the number of registered crypto companies in the country, OKX looks forward to the safe and sustainable development of the local ecosystem,” said Tim Byun, head of government relations at the company.
In March, OKX announced that it would apply for a virtual asset service provider license in Hong Kong.
The exchange has regulatory approval in Bermuda and a provisional license from the Dubai Virtual Assets Regulatory Authority.
Recall that in May, OKX announced the opening of a division in Turkey.
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