OKX Expands Global Footprints, Seeks Regulatory Approval in France

OKX, the world's second-largest crypto exchange by trading volume and a leading Web3 technology company, has filed application in France, looking to register with Autorité des Marchés Financiers (AMF) to offer regulated digital asset services in the country. The firm is committed to expanding its European presence, with France as a significant hub.

This comes after OKX's opening of a Hong Kong unit​ to deliver virtual asset services in the city. Besides, the crypto firm is looking to apply for the virtual asset service provider (VASP) licence in the region, as well as the Type 1 & 7 licences under the Securities and Futures Ordinance.

In April, OKX has incorporated its French unit OKX France.

"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," said OKX Head of Global Government Relations Tim Byun. "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."

Jean-Noël Barrot, Minister Delegate to the Ministry of Economy, Finance and Industrial and Digital Sovereignty, in charge of Digital Transition and Telecommunications, noted: "We are delighted that OKX selects France for expanding its operations in Europe. This decision confirms France's aspirations to become a key player in Web3 technologies".