MiCA Regulation: Bybit and OKX Secure Groundbreaking EU Expansion
Main Idea
Bybit and OKX are expanding into the EU under the MiCA Regulation, marking a significant step towards regulated crypto exchanges and mainstream adoption in Europe.
Key Points
1. The Markets in Crypto-Assets (MiCA) Regulation, approved in April 2023 and fully effective by end of 2024, provides a comprehensive regulatory framework for crypto-assets in the EU, offering legal certainty and consumer protection.
2. Bybit has secured a Crypto Asset Service Provider (CASP) license in Austria, enabling it to serve the broader EU market once MiCA is fully implemented.
3. OKX has chosen France as its hub, obtaining a Digital Asset Service Provider (DASP) registration with the AMF, positioning itself for MiCA compliance and leveraging France's economic influence.
4. Regulated exchanges under MiCA offer enhanced user protection, market integrity, operational standards, and legal recourse compared to unregulated exchanges.
5. MiCA's implementation is expected to foster a more mature, stable, and globally competitive digital asset ecosystem in Europe, attracting institutional adoption and mainstream acceptance.
Description
BitcoinWorld MiCA Regulation: Bybit and OKX Secure Groundbreaking EU Expansion The cryptocurrency world is constantly evolving, and perhaps no development is more significant right now than the global push for clearer regulatory frameworks. For years, the crypto space has been characterized by rapid innovation, but also by periods of uncertainty and volatility, often exacerbated by a lack of consistent rules. Now, a new chapter is unfolding, particularly in Europe, where the landmark Markets in ...
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