OKX Picks Malta Over France as Europe Hub to Comply With EU’s MiCA Crypto Rules: Sources
OKX’s planned European hub of Malta (Nick Fewings/Unsplash)
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OKX’s planned European hub of Malta (Nick Fewings/Unsplash)
Exchanges will list TREMP but not TRUMP, claiming the latter is “too political.”
The exchange’s action follows that of Huobi Hong Kong and several other applicants earlier this month.
The exchange could return as a FIU-registered firm after paying the fine, the report added.
OKX’s Tim Byun (OKX)
The news about X Layer comes as other major cryptocurrency exchanges, like Coinbase and Kraken, have also pursued their own layer 2 networks over the last year.
Patrick Donegan, whose LinkedIn profile says he managed a team of 300 people around the world, was at OKX from August 2023 to January 2024.
The action may foreshadow regulatory restrictions in the region for the largest stablecoin by market capitalization and trading volume, as upcoming E.U. rules will require stablecoin issuer to be licensed electronic money institutions.
OKX President Hong Fang says there is a high demand for crypto in the country.
January saw higher spot trading volume on centralized exchanges amid the approval of spot bitcoin ETFs in the U.S.