Is a crypto regulation wave approaching?
2023 has already shown itself to be a big year for regulation in crypto, and we’ve not even reached the halfway point. As more nations roll out a regulatory framework for crypto assets, our industry could witness accelerating change towards being stronger and more secure, as competition breeds innovation which breeds competition and so on. Call it ‘compounding progress’.
It’s tough to predict exactly what the regulatory landscape will look like by the end of 2023, but what’s certain is that positive change is on its way. So, what better time than now to recap the biggest regulatory moves crypto has witnessed in recent past.
MiCA: A regulatory leap forward for crypto
The formal adoption of the Markets in Cryptoasset (MiCA) Regulation by the European Union (EU) in April 2023 was arguably the most momentous regulatory development crypto has ever witnessed. MiCA, which is expected to come into force no later than early 2025, will bring clear and enforceable guidelines to crypto companies across the entire European market — setting a precedence for others to follow globally.
We’ve produced a must-read insight report explaining what MiCA is, what it covers, what it means for crypto, and much more.
The big regulatory changes transforming crypto in 2023
MiCA isn’t the only noteworthy regulation emerging in crypto today. Other countries across the world are busy drawing up governance of their own to protect users and bring legal clarity to crypto industry players.
Against the backdrop of MiCA’s April 2023 announcement, we outlined the other major regulatory changes shaping crypto this year.
Click here to read all about it.
OKX aims for regulatory approval in France
With growth on our mind, OKX applied for regulatory approval in France in May 2023. Registration with the nation’s Autorité des Marchés Financiers (AMF) will allow us to provide a full suite of products and services to users across France, helping more people to access the transformative power of crypto and Web3.
THIS ARTICLE IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE OR SELL OR HOLD DIGITAL ASSETS. DIGITAL ASSET HOLDINGS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. YOU SHOULD CAREFULLY CONSIDER WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.
© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.
Information about: digital currency exchange services is prepared by OKX Australia Pty Ltd (ABN 22 636 269 040); derivatives and margin by OKX Australia Financial Pty Ltd (ABN 14 145 724 509, AFSL 379035) and is only intended for wholesale clients (within the meaning of the Corporations Act 2001 (Cth)); and other products and services by the relevant OKX entities which offer them (see Terms of Service). Information is general in nature and should not be taken as investment advice, personal recommendation or an offer of (or solicitation to) buy any crypto or related products. You should do your own research and obtain professional advice, including to ensure you understand the risks associated with these products, before you make a decision about them. Past performance is not indicative of future performance - never risk more than you are prepared to lose. Read our Terms of ServiceTerms of Serviceand Risk Disclosure Statement for more information.
