As the global cryptocurrency landscape continues to evolve, regulatory compliance has become a cornerstone of sustainable growth for digital asset platforms. In a strategic move underscoring its commitment to legitimacy and expansion, OKX, one of the world’s leading Web3 technology companies and the second-largest crypto exchange by trading volume, has formally submitted an application to operate as a Digital Asset Service Provider (DASP) in France.
This filing with the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) marks a pivotal step in OKX’s European growth strategy. By pursuing full regulatory recognition under France’s robust DASP framework, OKX aims to offer compliant, secure, and innovative crypto services to French users while aligning with upcoming EU-wide regulations like MiCA (Markets in Crypto-Assets Regulation), set to take effect in 2024.
👉 Discover how OKX is shaping the future of regulated crypto innovation in Europe.
Strengthening European Presence Through Strategic Registration
OKX’s decision to incorporate OKX France in April 2023 laid the foundation for this regulatory application. The company views France not just as a market, but as a strategic hub within Europe—thanks to its advanced financial infrastructure, tech-savvy population, and supportive regulatory environment.
Tim Byun, Head of Global Government Relations at OKX, emphasized the significance of the French regulatory framework:
“The French DASP regulation provides a clear and secure regulatory framework for digital asset service providers. Coupled with the growing number of registered DASPs in France, OKX looks forward to growing the French ecosystem in a safe and sound manner. For OKX, this application is a huge opportunity to demonstrate our commitment to support new regulatory frameworks as well as to plan for the future with MiCA coming onboard in 2024 for the entire European Union.”
By aligning with AMF standards now, OKX is positioning itself ahead of MiCA’s implementation, ensuring smoother operations across the EU once harmonized rules are in place.
Why France? A Hub for Web3 Innovation
France has emerged as a frontrunner in Europe’s digital transformation journey. Since 2017, under the leadership of President Emmanuel Macron and Minister Bruno Le Maire, the country has actively promoted policies to attract blockchain innovators and fintech disruptors.
Jean-Noël Barrot, Minister Delegate for Digital Transition and Telecommunications, welcomed OKX’s move:
“We are delighted that OKX selects France for expanding its operations in Europe. This decision confirms France’s aspirations to become a key player in Web3 technologies… OKX’s decision is a testament to the success of the French government’s policies aimed at nurturing a resilient and secure innovative crypto-asset sector.”
France offers more than just regulatory clarity—it boasts a highly skilled workforce, a vibrant startup ecosystem, and strong institutional support for emerging technologies. These factors make it an ideal base for OKX to scale its Web3 initiatives across the continent.
Commitment to Compliance, Security, and Transparency
In an industry often scrutinized for opacity and risk, OKX has prioritized trust-building through proactive compliance and transparency measures.
The company has expanded its international compliance team and taken active steps to combat illicit activities such as fraud and ransomware. Notably, OKX has committed to turning over frozen assets linked to the FTX and Alameda collapses, reinforcing its stance on accountability.
Transparency remains central to OKX’s operations. The platform publishes monthly Proof of Reserves, providing real-time, trustless verification of its asset holdings, liabilities, and solvency—exceeding industry standards and giving users confidence in the platform’s financial integrity.
Expanding Global Footprint with Strategic Licensing
France is not the only jurisdiction where OKX is deepening its regulatory engagement. In March 2023, the company announced plans to apply for virtual asset service provider licenses in Hong Kong, further solidifying its presence in Asia.
Currently, OKX holds full licensing in the Bahamas and a provisional license from VARA (Virtual Assets Regulatory Authority) in Dubai—two key hubs known for their forward-thinking crypto regulations.
This multi-jurisdictional approach reflects OKX’s long-term vision: to operate legally, securely, and sustainably across global markets while fostering innovation in decentralized finance (DeFi), NFTs, GameFi, and beyond.
👉 See how OKX is building compliant Web3 ecosystems worldwide.
Powering Web3 Adoption with User-Centric Solutions
At its core, OKX is more than a trading platform—it's a gateway to the decentralized internet. The company offers a suite of self-custody tools designed to empower users with full control over their digital assets.
Its OKX Wallet is Web3-compatible and enables seamless access to decentralized exchanges (DEXs), NFT marketplaces, DeFi protocols, GameFi apps, and thousands of dApps—all within a single interface.
Hong Fang, President of OKX, highlighted the company’s mission:
“Our dedication lies in broadening our reach and involvement with European regulators, and we consider our operations in France to be crucial in this endeavour… As a Web3 leading company, we are looking forward to introducing French people to all the amazing projects we are working on.”
Through partnerships with global brands like Manchester City F.C., McLaren Formula 1, The Tribeca Festival, and elite athletes such as Ian Poulter and Daniel Ricciardo, OKX is driving mainstream awareness of blockchain technology.
Frequently Asked Questions (FAQ)
Q: What does DASP mean in France?
A: DASP stands for Digital Asset Service Provider. It's a regulatory classification under French law requiring crypto platforms to meet strict compliance, security, and reporting standards set by AMF and ACPR.
Q: Is OKX regulated in Europe?
A: While not yet fully authorized in all EU countries, OKX is actively pursuing regulatory approval in key markets like France. Its application under the DASP regime demonstrates its intent to comply with European financial regulations.
Q: Will I be protected if I use OKX in France?
A: Once licensed by the AMF, OKX will operate under French regulatory oversight, offering enhanced consumer protections. However, users should note that digital assets carry inherent risks and are not covered by traditional schemes like the Financial Services Compensation Scheme (FSCS).
Q: How does OKX ensure fund security?
A: OKX uses multi-layered security protocols and publishes monthly Proof of Reserves, allowing independent verification of user funds. It also maintains insurance mechanisms and cold storage solutions.
Q: What is MiCA and how does it affect OKX?
A: MiCA (Markets in Crypto-Assets Regulation) is the EU’s comprehensive regulatory framework for cryptocurrencies. It standardizes rules across member states. OKX’s early compliance efforts in France position it well for MiCA adoption.
Q: Can I access DeFi and NFTs through OKX?
A: Yes. OKX supports direct integration with thousands of decentralized applications via its wallet, enabling users to trade NFTs, participate in DeFi yield farming, and explore GameFi ecosystems seamlessly.
👉 Start exploring decentralized finance securely with OKX today.
Final Thoughts: Building Trust Through Regulation
OKX’s application for DASP status in France represents more than market expansion—it reflects a broader industry shift toward accountability, transparency, and user protection. As governments worldwide refine their crypto policies, platforms that proactively embrace regulation are best positioned to lead the next phase of Web3 adoption.
With France serving as a strategic gateway to Europe, OKX is not only complying with local laws but also helping shape the future of digital finance on a global scale.