Since crypto regulations have evolved in France, the attractiveness of this market has increased significantly. A dynamic announced by many experts and which has just been confirmed by the crypto exchange platform OKX, one of the most important exchanges in the world.
OKX has applied to provide its services in France
The crypto company OKX intends to enter the crypto market in France. The company made this known via a press release published this Tuesday, May 23, 2023. The document provides the details of the project.
OKX indicates there have initiated formalities with the Autorité des Marchés Financiers (AMF). To the latter, the company sent a request for registration authorization in accordance with French crypto legislation.
The launch of this procedure follows preliminary steps taken last month. In April, OKX initiated and obtained the legal constitution of its French subsidiary, OKX France. This formality already denoted OKX’s desire to expand its presence on the European crypto market via France.
If it opens its doors, OKX would obtain official recognition as a digital asset service provider (DASP). Enough to allow this leading company to provide the French with a range of crypto products and services. This, in strict compliance with French crypto regulations.
Towards the agreement of the French authorities?
Everything seems to indicate that the authorities are in favor of the installation of OKX in France. Jean-Noël Barrot, Minister Delegate in charge of the Digital Transition and Telecommunications, said “delighted that OKX has chosen France to develop its activities in Europe”. A choice that “confirms France’s aspirations to become a key player in Web3 technologies”.
The company has provided the reasons for its choice. “The French DASP regulations provide a clear and secure regulatory framework for digital asset service providers. Given the growing number of DASPs registered in France, OKX is delighted to be able to develop the French ecosystem in complete safety, said Tim Byun, Head of Global Government Relations at OKX.
The crypto firm seems to be part of a sustained dynamic of expansion of its activities. In March, it announced that it had launched similar formalities in Hong Kong.
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