- OKX and Crypto.com have obtained regulatory licenses under the EU’s MiCA laws, allowing them to expand services to over 30 European Economic Area (EEA) member states.
- Both exchanges can now offer over 240 cryptocurrencies and 260 trading pairs, with OKX introducing free euro deposits/withdrawals, local language support, and currency displays for European users.
OKX and Crypto.com have obtained regulatory licenses under the European Union’s Markets in Crypto-Assets Regulation (MiCA), enabling them to expand their services across the European Economic Area (EEA).
With the MiCA license, OKX and Crypto.com can now provide access to more than 240 cryptocurrency tokens and 260 trading pairs, including 61 euro-crypto trading pairs.
OKX will support free euro deposits and withdrawals via bank transfers, the exchange said in an announcement, along with local language and currency displays for European users.
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“EU Shows Foresight In Crypto Regulation”
Meanwhile, Crypto.com will offer a variety of crypto services throughout the EEA, taking advantage of the passport feature, which simplifies regulatory requirements for crypto assets service providers (CASPs) by allowing access to all 30 EEA member states under a unified regulatory system.
The exchange said the passport feature and the overall license allow it to streamline operations while remaining compliant within the EEA:
The European Union has shown incredible foresight in designing and implementing a regulatory system which means we can streamline operations to ensure both compliance and seamless cross- border activity.
Crypto.comErald Ghoos, OKX Europe’s CEO, echoed a similar sentiment, stating that the MiCA framework represents a “gold standard for regulation”:
Europe’s progessive approach to digital finance proritizes customer saftey and transparency, and it’s amazing to see the region be a key driver for building the future of the global digital economy. OKX will be the go-to digital asset platform in Europe for any digital asset offering under a fully regulated framework.
Erald Ghoos, OKX Europe’s CEORelated: XRP’s Bullish Burst: Analyst Forecasts a Surge to $8 Amid Optimistic Market Cycle
January has been an interesting month for crypto regulations worldwide, it seems. Popular crypto exchange Bitpanda also secured a MiCA license in Germany. Similarly, British multinational Standard Chartered established a new entity in Luxembourg to act as its “EU regulatory entry point” and serve growing client demand.
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