OKX edges closer to receiving full MiCA license
The exchange intends to support more than 240 tokens
OKX, a leading cryptocurrency exchange, has achieved a significant milestone in its regulatory journey by receiving pre-authorization under the European Union’s Markets in Crypto-Assets (MiCA) regulation.
Granted by the Malta Financial Services Authority (MFSA) on January 22, the pre-authorization signifies that OKX has completed the regulator’s review process, bringing the company closer to obtaining a full MiCA license, Сointelegraph informs.
Erald Ghoos, General Manager of OKX Europe, confirmed the development and highlighted the company’s commitment to compliance within the European market.
“This is a pivotal step in our mission to align with MiCA standards and provide secure, localized crypto services to users across Europe,” Ghoos said.
Building a regulatory stronghold in Malta
The pre-authorization follows OKX’s strategic decision to establish a dedicated MiCA hub in Malta in July 2024. The island nation has positioned itself as a blockchain-friendly jurisdiction, making it an ideal location for companies seeking MiCA compliance. Once fully licensed, OKX plans to expand its European operations, offering services to a potential user base of over 400 million people.
The exchange intends to support more than 240 tokens and provide tailored crypto solutions across the EU. The MiCA framework, adopted in 2023, is designed to standardize crypto-asset regulations across member states, ensuring greater transparency, investor protection, and market integrity.
Next steps and broader implications
With the pre-authorization secured, OKX is poised to complete the final steps toward full MiCA approval. This would mark a significant milestone for the exchange, allowing it to solidify its presence in one of the world’s largest crypto markets. Analysts note that OKX’s progress underscores the growing importance of regulatory compliance in the rapidly evolving cryptocurrency sector.
The successful acquisition of a MiCA license would position OKX as a leader in Europe’s crypto ecosystem, setting a benchmark for other exchanges. Industry watchers are now keenly observing how OKX’s regulatory strategy will impact competition and user adoption in the region.
We also reported that OKX launches $1M TRUMP token giveaway after January 19 listing.
