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OKX secures MiCA license, now passporting crypto services to 28 EEA countries

Source Cryptopolitan

OKX has officially been added to the list of MiCA-licensed global crypto exchanges to passport its services across Europe. The exchange that secured its MiCA license on January 27, 2025, can now offer crypto services to over 400 million people in 28 EEA countries.

OKX says that users will have access to more than 240 digital tokens and trade across 300 pairs, with more than 60 pairs based on euros. Customers across the EEA can access the platform’s infrastructure. This includes over-the-counter (OTC) trading, spot trading, and bot trading. In addition, customers from Europe can use famous local payment methods to buy crypto coins and deposit and withdraw Euros for free through bank transfers.

OKX is available in the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

This is a major milestone for the exchange. MiCA regulations stiffened last year, allowing only a few exchanges access to Europe. Major exchanges like Binance have not yet gotten access to several nations in the EU. OKX has joined exchanges like Bitpanda and Crypto.com, which use passporting.

OKX expansion – what does this mean?

OKX received a license from the Malta Financial Services Authority (MFSA) in the Republic of Malta. Luckily, passporting is an important part of the MiCA framework because it lets companies licensed in one EU country offer their services to all EU member states without getting any extra permissions. OKX plans to passport.

Erald Ghoos, CEO of OKX Europe, said, “Securing the MiCA license and achieving passporting rights underscores our unwavering commitment to providing secure, transparent, and localized crypto services across the EEA.”

He added, “With support for local languages, currencies, and payment methods, we are making crypto trading more accessible than ever. OKX is the new alternative for European crypto finance, and this milestone solidifies our position as the go-to platform for both beginners and advanced customers in the EEA.”

OKX previously had more than 60 million customers worldwide. The exchange provides crypto services for both centralized (CEX) and decentralized (DEX) exchange systems. OKX’s passporting rights bring an added layer of confidence for more users. The EU will offer a wider range of customers, up to six times the current number.

EU watchdog says crypto companies and staff must meet strict knowledge standard

The European Securities and Markets Authority (ESMA) has released detailed rules that crypto-asset service companies must follow to make sure their employees meet high standards of knowledge and skill. This is a big step toward making the business more professional under MiCA rules.

Service providers must ensure their staff understands key aspects of crypto assets, including distributed ledger technology fundamentals, market functioning and pricing mechanisms, cybersecurity risks and protection measures, regulatory frameworks and investor protection considerations, and tax implications and cost structures.

#ESMA launched a consultation on the criteria for the assessment of knowledge and competence of crypto-asset service providers’ staff giving information or advice on #CryptoAssets or crypto-asset services.

🗓️ Send your comments by 22 April 2025 → https://t.co/9t4at6MKzf. pic.twitter.com/NFUY7IV6dZ

— ESMA – EU Securities Markets Regulator 🇪🇺 (@ESMAComms) February 17, 2025

The regulator said, “ESMA launched a consultation on the criteria for the assessment of knowledge and competence of crypto-asset service providers’ (CASPs) staff giving information or advice on crypto-assets or crypto-asset services.”

The rules require employees who give crypto advice to complete at least 20 hours of professional development every year and employees who provide information to complete at least 10 hours. It also lists specific education and work experience requirements. For example, advisors must have a three-year college degree and one year of supervised experience, or they must have other combinations of education and work experience.

The deadline for comments is April 22, 2025, and ESMA should release the final rules in the third quarter of that year. They will go into force 60 days after they are published in all official EU languages.

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Beginners

OKX secures MiCA license, now passporting crypto services to 28 EEA countries

OKX expansion – what does this mean?

EU watchdog says crypto companies and staff must meet strict knowledge standard

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