[PRESS RELEASE – Paris, France, May 23rd, 2023]
OKEx, the world’s second largest crypto exchange by trading volume and a leading Web3 technology company, today announced that it has filed an application to become a registered Digital Asset Service Provider (DASP) in France, which is under stringent requirements set by the Autorité des Marches financiers. (AMF) and the Autorité de Controle Prudentiel et de Resolution (ACPR).
OKEx’s decision to register with the AMF follows the company’s incorporation of OKEx France in April and demonstrates its dedication to growing its European presence with France as a key hub. Registration with the AMF will enable OKEx to offer a suite of products and services to customers in France in full compliance with local regulations.
“The French DASP regulation provides a clear and secure regulatory framework for digital asset service providers,” said Tim Bien, OKEx’s Head of Global Government Relations. “Combined with the growing number of DASPs registered in France, OKEx offers a safe and sound way to Looking forward to developing the French ecosystem. For OKX, this application shows our commitment to plan for the future as well as support the new regulatory framework for the whole of the EU with MiCA joining in 2024. It’s a great opportunity to showcase.
Beyond the strong and transparent regulatory framework, France has positioned itself as the European hub for OKEx, due to its high concentration of crypto enthusiasts and experienced traders and the highly qualified workforce required for OKEx’s growth.
said Jean-Noël Barot, minister representative in charge of digital transition and telecommunications, ministry of economy, finance and industrial and digital sovereignty. “We are delighted that OKX chooses France to expand its operations in Europe. This decision confirms France’s aspirations to become a major player in Web3 technologies, a vision that has been supported since 2017 by President Macron and Minister Endorsed by Bruno Le Maire.
The deep expertise and experience of the French authorities in the crypto-asset sector enables OKX to benefit from a consistent and robust approach to its licensing process and beyond. OKX’s decision is a testament to the success of the French government’s policies aimed at nurturing a resilient and secure innovative crypto-asset sector. We are more convinced than ever that France has all the necessary ingredients to become a worldwide leader in Web 3 innovation and the digital economy.
Compliance, regulation, and transparency are important factors for the success of the crypto and blockchain industry. Over the years, OKX has taken measures to ensure compliance, including growing its international compliance team, as well as actively fighting fraud and ransomware. In terms of transparency, OKX is constantly enhancing its approach to exceed market benchmarks and achieve real-time, trustless verification of reserves, liabilities and solvency.
In March, OKX announced that it would be applying for a virtual asset service provider license in Hong Kong. It is currently licensed in the Bahamas and holds a provisional license from VARA in Dubai.
Hong Fang, President of OKEx, said: “Our dedication lies in expanding our reach and partnership with European regulators, and we consider our operations in France as important in this effort. We look forward to maintaining our cooperation with the AMF. as we expand the use of our product portfolio in France, offering individuals and businesses a secure and efficient approach to exchanging value.As a Web3 leading company, we bring all those wonderful Looking forward to introducing the French people to the projects we are working on.
OKX is a world-leading technology company building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume and trusted by over 50 million users. Is.
OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control over their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi, and thousands of dApps.
OKX has partnered with many of the world’s top brands and athletes, including English Premier League champions Manchester City FC, McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scottie James and F1 driver Daniel Ricciardo.
OKEx is committed to transparency and security and publishes proof of its reservations on a monthly basis.
To learn more about OKX, download our app or visit, okx.com
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax or legal advice, nor should it be construed as an offer to buy, sell or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can be highly volatile, and may even be worthless. OKX is not regulated by the FCA, thus, protections such as the Financial Ombudsman Service or the Financial Services Compensation Scheme will not be available. You should consider whether you understand how crypto works and whether trading or holding digital assets is suitable for you in light of your financial situation. The value of your digital assets, including stable coins, may increase or decrease and profits may be subject to capital gains tax. Past performance is not indicative of future results. Please consult your legal/tax/investment professional for questions regarding your specific circumstances.
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