OKX Applies for Regulatory Approval in France: A Step Towards Web3 Innovation
• OKX, a leading crypto exchange and Web3 technology company, has applied to become a registered Digital Asset Service Provider (DASP) in France.
• The application follows the company’s incorporation of OKX France in April and demonstrates its dedication to growing its European presence.
• This decision confirms France’s aspirations to become a key player in Web3 technologies, and is a testament to the success of the policies aimed at nurturing an innovative crypto-asset sector.
Okx Applies for Regulatory Approval in France
OKX, a world-leading crypto exchange and web3 technology company, announced it has filed an application with Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France to become a registered Digital Asset Service Provider (DASP). The decision follows their incorporation of OKX France last April as part of their dedication to grow their presence within Europe.
Benefits of Regulation
The DASP regulation provides clear and secure regulatory framework for digital asset service providers within the country; enabling OKX to offer products and services that are compliant with local regulations. Additionally, this move shows commitment from OKX towards new regulations such as MiCA which will be introduced into EU countries by 2024.
Growth Opportunities
France offers many growth opportunities for OKX due to its high concentration of crypto enthusiasts, experienced traders, highly qualified workforce available; all necessary components for further development within the country.
French Government Response
Jean-Noël Barrot – Minister Delegate to the Ministry of Economy – expressed his delight at OKX’s selection of France as their chosen hub for expansion throughout Europe. He also praised French authorities‘ deep expertise and experience regarding crypto assets which enabled them to approach licensing processes in a consistent manner.
Conclusion
OKX’s decision confirms France’s aspiration towards becoming an influential player within Web3 technologies; highlighting government policies aimed at nurturing an innovative crypto-asset sector throughout the country are successful.
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