OKX has submitted an application for a license as a Digital Asset Service Provider, joining many other companies that have already been approved.
OKX, a cryptocurrency exchange, aims to make France its main center in Europe and intends to hire approximately 100 employees in the country over the next three years. They are seeking approval from the Financial Markets Authority (AMF), which has already granted regulatory clearance to 74 other companies.
OKX, a company that deals with cryptocurrencies, wants to establish France as its main European center. They plan to hire around 100 people in the country within the next three years. To do so, they need approval from the Financial Markets Authority (AMF), which has already given the green light to 74 other companies.
France has become a popular choice for cryptocurrency exchanges looking to establish a presence in the European Union’s second-largest economy. Binance, the world’s largest crypto exchange, selected France as its European Union hub and registered as a Digital Asset Service Provider (DASP) last year. By September, Binance had already hired approximately 150 employees for its office in Paris, according to its founder, Changpeng “CZ” Zhao.
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In an interview, Byun, the spokesperson, mentioned that they aim to hire 100 permanent employees over a period of three years. They expect to hire around 30 new team members in the first year.
Byun mentioned that he anticipates the registration process to last approximately six months. This process involves verifying that companies adhere to anti-money laundering regulations and have trustworthy management. With the recent unanimous approval of the EU’s Markets in Crypto Assets (MiCA) regulation by all 27 member states, it should become simpler for crypto companies that have gained approval in one country to operate throughout the entire European Union.
Last month, the AMF proposed a faster licensing process for already registered companies in France to transition to MiCA regulations. These regulations include stricter guidelines concerning governance, consumer protection, and financial stability.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
