Introduction
The French financial markets authority, Autorité des marchés financiers (AMF), recently granted PSAN (Digital Asset Service Provider) registration to two major cryptocurrency platforms: OKX and Gemini. This regulatory milestone signifies a strategic expansion for both companies in Europe's growing crypto market.
Key Services Offered by OKX and Gemini in France
OKX's Registered Services:
- Digital asset custody
- Buying/selling digital assets for legal tender
- Exchanging digital assets for other digital assets
Gemini's Additional Offerings:
- All services listed above for OKX
- Operation of a digital asset trading platform
👉 Discover how OKX is shaping Europe's crypto landscape
OKX's Market Growth and Performance
OKX continues to gain market share amid industry shifts:
- Ranked #3 among centralized exchanges by assets under management ($12.7B) per CoinMarketCap
- Total Value Locked (TVL) increased by $2.5B year-to-date - the highest growth rate among major platforms
- $OKB token demonstrated resilience during bear markets, reflecting strong community trust
Regulatory developments like Europe's Markets in Crypto-Assets (MiCA) framework create favorable conditions for compliant operators like OKX and Gemini.
Why France? Strategic Advantages for Crypto Firms
France's regulatory clarity makes it an attractive hub for crypto businesses:
- PSAN registration provides legal certainty for service offerings
- Alignment with forthcoming EU-wide MiCA regulations
- Demonstrates France's positioning as a crypto-friendly jurisdiction
👉 Explore Gemini's European expansion strategy
FAQ Section
What does PSAN registration mean for users?
PSAN approval indicates regulatory compliance, offering users greater protection when trading or storing assets on these platforms.
How does OKX compare to Binance?
While Binance remains larger, OKX shows stronger recent growth metrics in TVL and has avoided the regulatory challenges impacting some competitors.
When will these services launch in France?
Both companies are expected to gradually roll out registered services following technical integration with French banking partners.
What are the tax implications?
French crypto tax rules apply to all PSAN-registered platforms (33% capital gains tax for occasional traders, 30% flat tax for professional traders).
Conclusion
The AMF's approval of OKX and Gemini marks a significant step in Europe's crypto institutionalization, with France emerging as a key battleground for compliant digital asset services. This development:
- Validates France's regulatory approach
- Expands choices for European crypto investors
- Signals maturity in the institutional crypto market
For traders and institutions, these new options combine regulatory assurance with the innovation expected from major global platforms.
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