Share this article
OKX Picks Malta Over France as Europe Hub to Comply With EU's MiCA Crypto Rules: Sources
OKX previously said in May 2023 that France would be its preferred European hub. "Compliance in Malta is way more lenient," said a person with direct knowledge of OKX's EU regulatory efforts.
Updated Jul 11, 2024, 6:43 p.m. Published Jul 11, 2024, 6:41 p.m.
Make us preferred on Google
- OKX plans to use Malta as its European Union hub to comply with the region's new MiCA regulation; previously, it had targeted France for this.
- "Compliance in Malta is way more lenient, and that's not the tag you want to have when you're in crypto and trying to make it in the EU," said a person with direct knowledge of OKX's European regulatory efforts.
- The cryptocurrency exchange is looking to fill several high-profile roles in Malta, including head of compliance, operations lead and head of internal audit.
OKX, the world's second-largest cryptocurrency exchange, plans to make the Mediterranean island of Malta its European hub and base for compliance with the newly arrived Markets in Crypto assets (MiCA) regulatory framework, according to two people familiar with the matter.
It's a change of tack for OKX, which said in May of last year that France would be its preferred European Union hub. OKX's France arm has been registered with France's financial regulator Autorité des marchés financiers (AMF) since December.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"Compliance in Malta is way more lenient, and that's not the tag you want to have when you're in crypto and trying to make it in the EU," said a person with direct knowledge of OKX's European regulatory efforts.
OKX declined to comment on the Malta decision.
Companies have been looking to get registered with one of the European Union's 27 nations to get ready for upcoming MiCA rules, which require firms to secure a crypto asset service provider, or CASP, license with an EU nation to operate across the entire bloc.
First, firms need to have a physical presence in that nation, carry out some business in the country and already be registered to get the CASP license. MiCA's stablecoin rules are already in place but the rest of the rules will come through in December.
Malta, which is home to many gaming companies and some investment firms, has embraced crypto in recent years. In late 2023, Malta's Financial Services Authority (MFSA) updated its rules for crypto companies to fall in line with the oncoming MiCA regime.
The exchange is looking to fill several high-profile roles in Malta, including head of compliance, operations lead and head of internal audit.
Earlier this year, OKX agreed to a "goodwill" settlement of 304,000 euros ($329,000) with the Maltese financial watchdog for certain regulatory failings.
Camomile Shumba contributed reporting to this story.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Why crypto’s new token issuances are falling flat and what comes next
New crypto tokens overwhelmingly lost value in 2025 as early liquidity, weak utility and misaligned distribution collided with a risk-averse market.
What to know:
- About 85% of tokens launched in 2025 are trading below their initial valuations, with the median token down more than 70%, according to Memento Research.
- Broad exchange-led distribution and airdrops flooded the market with short-term traders, creating persistent selling pressure and weak alignment with product usage.
- Regulatory uncertainty and thin token utility left many new assets without a clear long-term value proposition in a market dominated by bitcoin outperformance.
Top Stories
