OKX seeks regional hub in France

The crypto exchange is looking to hire 100 staff over next three years as its development continues.

Crypto exchange OKX is trying to get regulatory approval from France’s Financial Markets Authority (AMF) as it looks to set up a regional hub and employ around 100 people within the next three years.

The Seychelles-based firm is looking to join 74 other crypto companies that have received approval from the AMF by filing an application to become registered as a Digital Asset Service Provider (DASP).

France has become a popular location for crypto companies to set up, with the world's largest crypto exchange, Binance, setting up its EU hub in Paris after recently receiving its DASP registration.

With the EU’s Markets in Crypto Assets (MiCA) regulation being given the green light, crypto firms who have obtained approval in one country will find it easier and more accessible to operate across the whole bloc.

France recently invited crypto companies fleeing the US to join them in France with Benoît de Juvigny, Secretary General of the AMF saying: “If American players want to benefit, in the very short term, from the French regime, and from the start of 2025 from European arrangements, clearly they are welcome.”

Stablecoin issuer Circle, which has been critical of US regulators, has applied for registration from the AMF and is seeking a licence.

Teana Baker-Taylor, Vice President for Policy and Regulatory Strategy, Circle, said: “The AMF has a strong reputation for being a major market regulator that is forward thinking but manages risk well.”

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.

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