Exchange
OKX Chooses Malta as MiCA Hub for EU Compliance
Thursday. July 18 at 8:00 PM
1 min. readOKX, a cryptocurrency exchange and Web3 technology company, has selected Malta as its hub for Markets in Crypto-Assets (MiCA) to ensure adherence to regulatory standards in the European Union. Malta was chosen for its strong regulatory framework and OKX's existing presence in the country. Erald Ghoos, OKX Europe's general manager, highlighted the company's VFA Class 4 license in Malta since 2021. The MiCA hub in Malta will harmonize crypto regulations across EU and EEA states. OKX plans to offer spot trading and staking services to EU residents through Okcoin Europe Ltd. The exchange aims to provide a localized experience while ensuring security and transparency. Additionally, OKX will comply with MiCA standards and continue publishing proof of reserves. This move follows OKX's decision to exit Nigeria due to regulatory changes, with users given until Aug. 16 to withdraw funds or close positions.