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.
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