OKX, a cryptocurrency exchange, has announced that it has selected Malta as its headquarters for its European activities under the MiCA regulations. As part of its plans, OKX will introduce EUR and USDC spot trading pairs and provide buying, selling, conversion, and staking services to eligible EU citizens under the MiCA regulations. The MiCA regulations, which will be fully implemented on December 30, 2024, will enable crypto asset exchanges to operate across EU member states and offer their services throughout the region.
OKX’s local subsidiary, Okcoin Europe Ltd, has been granted a Virtual Financial Assets Service Provider license by the Malta Financial Services Authority since 2021. By leveraging Malta’s favorable regulatory environment and its existing license, OKX aims to expand its presence in the European market and offer a wider range of services to its users.
MiCA, which stands for Crypto-Asset Markets, is a regulatory framework proposed by the European Union to govern crypto asset-related services. It aims to encourage innovation while safeguarding consumers and participants in the rapidly evolving crypto asset market. MiCA sets out rules and licensing requirements for crypto asset service providers operating within the EU.
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