This is an important step towards obtaining an official MiCA license and is expected to be a major turning point in OKX's expansion into the European market.
MiCA is a regulation introduced by the EU to enhance transparency in the cryptocurrency market and protect investors. OKX is based in Malta.
If the company obtains a formal MiCA license through the European Economic Area (EEA) Hub, which will be located in the European Economic Area (EEA) region, it will have a legal basis to provide cryptocurrency services to more than 400 million European consumers.
An OKX official said, "MiCA's pre-approval is an important step forward for OKX's global expansion. We will strengthen our compliance with regulations and aim to obtain an official MiCA license.
"We will provide safer and more innovative virtual asset trading services to customers in the European market," the company said. Industry experts said OKX's approval marks a major milestone in the European cryptocurrency market ahead of the implementation of MiCA regulations.
In particular, MiCA will provide a clear regulatory framework for cryptocurrency exchanges, stablecoin issuers, and other cryptocurrency service providers.
OKX's preemptive regulatory response is expected to be a factor in enhancing its competitiveness in Europe. On the other hand, OKX has obtained licenses throughout Europe together with this pre-approval.
Once it obtains the official MiCA license, it will be able to provide various cryptocurrency-related financial services, including exchange operations, cryptocurrency trustee services, and payment services.
The MiCA pre-approval will enable OKX to legally offer its products across Europe. OKX's MiCA pre-approval will increase its credibility in the global financial regulatory environment and position it as a leading exchange in the European market.
This will be an important milestone in positioning the company.
2025/01/24 11:26 KST
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