On May 23, 2023, the world's second largest digital asset exchange and a leading Web3 technology companyOuyi OKXAnnounced today that it has submitted an application to obtain the registration license of the French Digital Asset Service Provider (DASP) in accordance with the strict regulations of the French Financial Market Authority (AMF) and the French Financial Prudential Supervision Agency (ACPR).

Ouyi OKX established a French company in April, and then decided to apply to the French Financial Market Authority to become a digital asset service provider. As France is an important hub in Europe, this move demonstrates OKX's determination to expand its business in Europe. After obtaining the registration approval of the French Financial Market Authority, OKX will be able to provide French users with a series of products and services that meet local regulatory requirements.

Tim Byun, Head of Global Government Relations at Ouyi OKX, said: "France has established a clear and secure regulatory framework for digital asset service providers. Given the increasing number of digital asset service providers registered in France, Ouyi OKX looks forward to helping France Build a safe and stable ecosystem. This application also shows that Ouyi OKX supports the new regulatory framework and is ready to fully support the EU's implementation of the "Markets in Crypto Assets Regulation (MiCA)" in 2024. )."

In addition to a sound and effective regulatory framework, France is expected to become an important stronghold of Ouyi OKX in the European market, because it gathers enthusiastic cryptocurrency enthusiasts, experienced traders and high-quality talents, which is just in line with the development of Ouyi OKXOKX in Europe necessary condition of the market.

Jean-Noël Barrot, representative of the French Minister of Economy, Finance and Industry, and Digital Sovereignty in charge of digital transformation and telecommunications, said: "We are very pleased that Ouyi OKX has chosen France as the starting point for its European business expansion. Ouyi OKX's decision consolidates This is the vision advocated by our President Emmanuel Macron and Minister Bruno Le Maire since 2017. French regulators have been committed to digging deep into digital In the field of assets, with professional knowledge and rich experience, Ouyi OKX can benefit from a consistent and robust regulatory system in the process of application registration and future development. The policy introduced by the French government is aimed at cultivating a stable and secure innovative cryptocurrency industry , and the decision of Ouyi OKX is a testament to the success of this policy. We firmly believe that France has all the necessary conditions to lead the global Web3 innovation and digital economy."

Compliance, regulation, and transparency are key success factors for the digital asset and blockchain industry. Over the years, OKX has taken various measures to ensure compliance, including cultivating an international compliance team and actively taking measuresPrevent fraudand extortion. In order to improve transparency, Ouyi OKX has been striving for perfection, adopting measures higher than industry standards, and can verify the capital reserves, liabilities and solvency of the trading platform in real time without relying on third parties.

In March of this year,OKX Announces Application for Hong Kong Virtual Asset Service Provider (VASP) License. Now, Ouyi OKX has been officially registered as a digital asset business in the Bahamas and holds a temporary license issued by the Dubai Virtual Asset Regulatory Authority (VARA).

Hong Fang, President of Ouyi OKX, said: "We are committed to expanding our business scope and working closely with European regulators. For the development of Ouyi OKX, the business in the French market will be a very important part. We are very happy to be able to While expanding the French product portfolio of Ouyi OKX, we will maintain cooperation with the French Financial Market Authority to provide users and enterprises with a safe and efficient transaction model. As a Web3 leader, we expect to introduce multiple products developed by Ouyi OKX to the French market. Wonderful project."