OKX Applies for Regulatory Approval in France

We today announced the filing of application in France to become a registered Digital Asset Service Provider (DASP) under the rigorous requirements set out by Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

Our decision to register with the AMF follows the incorporation of OKX France in April and demonstrates the dedication to growing our European presence. Registration with the AMF will enable us to offer a suite of products and services to customers in France in full compliance with local regulations.

Beyond the sound and transparent regulatory framework it offers, France has a high concentration of crypto enthusiasts and experienced traders and the highly qualified workforce available, necessary to our development.

Compliance, regulation and transparency are critical factors for the success of the crypto and blockchain industry. Over the years, we have taken measures to ensure compliance, including growing its international compliance team, as well as actively fighting fraud and ransomware. In terms of transparency, we are continuously enhancing the approach to exceed market standards and achieve real-time, trustless verification of reserves, liabilities and solvency.

In March, we announced that we would apply for virtual asset service provider licences in Hong Kong. We're currently licensed in the Bahamas and have a provisional licence from VARA in Dubai.