OKX Chooses Malta as European Hub for Compliance with MiCA Regulations

OKX, the world’s second-largest cryptocurrency exchange, has decided to establish its European hub in the Mediterranean island of Malta to ensure compliance with the Markets in Crypto assets (MiCA) regulatory framework. This decision marks a shift from OKX’s previous plan to set up its European base in France.

Earlier, OKX had announced France as its preferred European Union hub and had registered its France arm with France’s financial regulator Autorité des marchés financiers (AMF) in December of last year. However, the company has now opted for Malta due to the more lenient compliance environment in the country.

According to sources familiar with OKX’s regulatory strategy in Europe, the decision to choose Malta over France was influenced by the regulatory landscape and the ease of compliance. The upcoming MiCA rules mandate that firms obtain a crypto asset service provider (CASP) license from an EU nation to operate across the entire bloc. This requires firms to have a physical presence in the chosen nation, conduct business activities, and be registered to qualify for the CASP license.