OKX, a crypto exchange and Web3 technology company, has announced that it will use Malta as its hub for complying with the Markets in Crypto-Assets (MiCA) regulations in the European Union.
OKX highlighted Malta’s “high regulatory standards” and noted that the company already has a team and infrastructure in place there.
Erald Ghoos, the general manager of OKX Europe, explained : “We have held a VFA Class 4 license in Malta since 2021.” This existing license and Malta’s robust regulatory framework made it an ideal choice for OKX’s MiCA hub.
By leveraging Malta’s regulatory infrastructure, OKX aims to expand its crypto services across the EU while ensuring full compliance with upcoming MiCA regulations. This strategic move reinforces OKX’s commitment to operating within regulatory guidelines and providing secure, compliant services to its users.
Summary Review: OKX’s decision to establish Malta as its MiCA hub underscores the island nation’s reputation for strong regulatory standards and an established crypto infrastructure. By leveraging its existing VFA Class 4 license and the local regulatory framework, OKX is well-positioned to expand its services across the EU while ensuring compliance with MiCA regulations. This move highlights OKX’s commitment to regulatory adherence and its strategy to provide secure and compliant crypto services to users throughout Europe.
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