OKX, a cryptocurrency exchange, has recently announced that it has selected Malta as its headquarters for its European operations under the MiCA regulations. As part of this decision, OKX plans to introduce trading pairs for EUR and USDC spot trading and provide buying, selling, conversion, and staking services to eligible EU citizens in accordance with the MiCA regulations.
MiCA, which is set to take effect on December 30, 2024, will enable crypto asset exchanges to operate across EU member states and offer services throughout the region. OKX’s local subsidiary, Okcoin Europe Ltd, has been in possession of a Virtual Financial Assets Service Provider license issued by the Malta Financial Services Authority since 2021.
This strategic move by OKX aims to capitalize on Malta’s favorable regulatory environment and OKX’s existing license to expand its presence in the European market and provide a broader range of services to its users.
MiCA, short for Crypto-Asset Markets regulation, is a regulatory framework proposed by the European Union (EU) to govern the issuance and provision of services related to crypto assets. Its purpose is to promote innovation while safeguarding consumers and participants in the rapidly evolving crypto asset market. It establishes rules and licensing requirements for crypto asset service providers operating within the EU.
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