OKX Chooses Malta as MiCA Hub for Compliance with EU Regulations
Major crypto exchange OKX has selected Malta as its hub for Markets in Crypto-Assets (MiCA) compliance within the European Union.
In a Thursday press release, the firm said it chose Malta due to its reputation for high regulatory standards and its progressive approach to blockchain technology and cryptocurrencies.
Additionally, OKX already has existing personnel and infrastructure based in the Mediterranean island, making it a practical choice for establishing its MiCA hub.
With the implementation of the MiCA framework, OKX plans to offer spot trading services, including trading pairs with EUR and USDC, as well as buy, sell, convert, and staking services to eligible residents of the EU through its Malta entity.
Once fully effective on December 30 of this year, MiCA will enable crypto-asset exchanges to operate in multiple EU countries and provide their services across the entire region.
We’ve established our MiCA hub in Malta because it will enable us to provide world-class products to a diverse range of customers across Europe,” OKX Europe General Manager-Designate Erald Ghoos said.
Ghoos also highlighted the significance of the new regulatory standards in protecting users and supporting the sustainable development of the crypto industry, as well as OKX’s long-term investment and hiring plans in Europe.
We're customer-focused & committed to regulation.
As part of this ethos, we're excited to announce that Malta will be our MiCA base in EU.
Through MiCA, we look forward to serving millions of Europeans under one regulatory framework.
More: https://t.co/m4KAzdiirp pic.twitter.com/jbOusgoA06
— OKX (@okx) July 18, 2024
OKX’s local entity, Okcoin Europe Ltd, has held a Virtual Financial Assets Service Provider License from the Malta
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