Crypto exchange OKX seeks to set up shop in France

Cryptocurrency exchange OKX has filed an application in France to become registered as a digital asset service provider (DASP) under the rules set out by the country's stock market regulator, Autorité des Marchés Financiers, it said in a statement Tuesday. Seychelles-based OKC is the latest overseas crypto firm to target France as a regional hub in Europe, with 74 other companies already getting the green light from the AMF. Of note, Binance, the world's largest crypto exchange by trading volume, gained regulatory approval last May to custody digital assets in France. Companies that want to operate a crypto trading platform or custody service in France must comply with certain anti-money laundering standards, among other criteria, in order to secure a registration. "France has led the way with its DASP licensing, and with MICA now passed across Europe, the regulatory environment for a French entity to serve all of Europe seems like it could be a clear path," said Michael Silberberg, head of Investor Relations at crypto hedge fund AltTab Capital. OKX's decision to register with the AMF comes after the company's incorporation of OKX France in April, it said . More on OKX Crypto exchange OKX secures license to offer trading services in UAE Centralized crypto exchanges' trading volume plunges 40% in April, data show Crypto exchange OKX looks to boost headcount by 30% even with market rout - report