OKX to Set its Europe Hub in Malta

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OKX, the second largest cryptocurrency exchange in the world, is planning to establish a foothold in the European Union by setting up in Malta and adhering to the new Markets in Crypto assets (MiCA) regulatory framework.

This is a shift from their previous plan to establish in France, where they have already registered with the country’s financial regulator.

According to sources, OKX has decided on Malta due to the more relaxed compliance requirements, which are more suited for operating in the cryptocurrency space.

The European Union is soon implementing the MiCA rules, which will require all companies operating in the bloc to obtain a crypto asset service provider (CASP) license from an EU member state.