OKX, the world’s second-largest cryptocurrency exchange and Web3 technology company, has applied to become a registered Digital Asset Service Provider (DASP) in France. This move follows OKX’s incorporation of OKX France in April and the company’s commitment to expanding its European presence, with France playing a significant role. Registration with Autorité des Marchés Financiers (AMF) enables OKX to offer compliant products and services to its French customers. OKX Head of Global Government Relations, Tim Byun, has praised the French DASP regulation and sees this application process as an opportunity to demonstrate the company’s commitment to supporting new regulatory frameworks.
The French authorities’ expertise and experience in the crypto-asset sector are an advantage for OKX due to France’s concentration of crypto enthusiasts and its highly qualified workforce. Jean-Noël Barrot, Minister Delegate to the Ministry of Economy and Finance and Digital Transition and Telecommunications, supports this sentiment. France’s sound and transparent regulatory framework, coupled with OKX’s compliance measures, offers real-time verification of reserves, liabilities, and solvency for its customers.
OKX’s dedication lies in broadening its reach and involvement with European regulators, with a crucial operational base in France. OKX offers its products and services securely and efficiently, presenting individuals and businesses with decentralized exchange access, and thousands of dApps. OKX committed to transparency and security and publishes its monthly Proof of Reserves.