Europe and crypto regulation: OKX wants to settle in France

OKX in Paris – The OKX cryptocurrency platform announced his ambitious plan to make France its regional hub in Europe. As part of this growth strategy, OKX confirms that it has applied for registration PSAN and want to hire. The Seychelles-based company thus joins the many companies that want theapprobation regulatory of the Financial Markets Authority (AMF) In France.

PSAN application for OKX with the AMF…

OK therefore unveiled its new international development strategy in the context of an interview with our colleagues at Capital and announced that it wanted to conquer the old continent by making France a regional crypto hub.

“We appreciate that France already has a regime to regulate service providers on digital assets (PSAN). We also know that France will support companies in the transition to the European MiCA framework. And that is why we are particularly optimistic for France (…) We would like France to be our main anchor, but we have no contempt for other European jurisdictions. »

Tim Byun, Head of International Government Relations at OKX

On his side, Jean-Noel BarrotFrench Minister for the Digital Transition and Telecommunications, did not hide his enthusiasm:

“We are delighted that OKX has chosen France to expand its activities in Europe. »

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… to make France a crypto hub in Europe

However, contrary to what the minister thinks, let’s not get carried away and keep in mind that this is only a file submission. Even if Buyn’s statements confirmed that if the file is validated, the platform wishes to settle in France and hire at least 30 full-time employees in order to make France its center in Europe, the game is not yet won.

The filing of the registration application marks an important milestone for OKX, but it will probably take up to six months to get theapprobation. However, with le recent vote of EU regulation on the Crypto Asset Markets (MiCA) by member states, cryptocurrency businesses that have gained approval in one EU country will be able to operate more easily across the bloc.

Note also thatOK is not not the first crypto platform who chooses France to settle in Europe. Binance did the samethere are some laws, for example, showing a certain attractiveness of the hexagon.

Be careful all the same and remember that the attacks of US financial regulators against the cryptosphere are in full swing in the United States! There Securities and Exchange Commission (SEC) is particularly virulent and chains targets among crypto projects. In this context, the Autorité des marchés financiers (AMF) claims to want welcome in France the crypto-companies exiled from the USA certainly. However, where there are 73 PSAN records, a first PSAN approval n’a never been accepted yet.

In France, at least things are clear! Registration with the AMF, PSAN status, the CZ platform is in the nails. Run to register on BinanceTHE absolute benchmark for crypto exchanges, and save 10% on your trading fees by following this link (commercial link).

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