OKX Becomes First Global Exchange to Receive Pre-Authorization for MiCA Compliance

Centralized crypto exchange OKX revealed on Jan. 23 that it has secured pre-authorization for compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation, which aims to establish a regulatory framework for cryptocurrency across the EU.

OKX’s full MiCA license will allow the platform to support at least 260 trading pairs and expand its services to the continent’s 400 million users.

The pre-authorization marks a key step in OKX's European expansion, part of OKX’s broader strategy to maintain compliance as it continues to grow in one of the most highly regulated markets for cryptocurrency.

"Europe has always been at the heart of the global crypto revolution, and MiCA sets a powerful example for the rest of the world,” said Hong Fang, OKX’s President. “MiCA's progressive approach to digital finance regulation in Europe and its strong focus on customer safety and security establishes a global benchmark.”

OKX Europe CEO Erald Ghoos echoed Fang's sentiments, calling the pre-authorization for the MiCA license a key milestone. He emphasized that this achievement highlights OKX's commitment to responsible leadership in the global crypto industry.

MiCA

Prior to MiCA, which came into effect in June 2023, crypto firms had to navigate a patchwork of regulations, often requiring multiple licenses to operate in different countries within the EU.

“The entry into force of the MiCA regime from 30 Dec. 2024 marks a significant step towards having a regulatory framework for the crypto market in place,” Verena Ross, European Securities and Markets Authority (ESMA) Chair, said at the time.

OKX's MiCA pre-authorization follows the exchange's decision to choose Malta as its European hub months earlier. The exchange explained that it selected Malta as its European hub due to its thorough regulatory framework and robust technology infrastructure.