OKX, as of lately, is trying to expand in key crypto markets; in 2025, it secured a MiCA license to operate across Europe, earlier obtained licenses in Dubai and Singapore, but is yet to gain entry into the US, UK, and Canada due to stringent compliance requirements

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OKX, as of lately, is trying to expand in key crypto markets; in 2025, it secured a MiCA license to operate across Europe, earlier obtained licenses in Dubai and Singapore, but is yet to gain entry into the US, UK, and Canada due to stringent compliance requirements

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Dec 31, 2024 - 10:00pm

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In recent years, OKX has achieved significant success in expanding its market presence. The company secured licenses in key jurisdictions, including Dubai in 2022 and Singapore, where it introduced Singapore dollar (SGD) deposit and withdrawal services in November 2024. In early 2025, OKX obtained a MiCA (Markets in Crypto-Assets) license. This made it one of the first cryptocurrency exchanges authorized to offer services across Europe. Despite its success, OKX faces regulatory challenges in some major markets. Due to stringent compliance requirements, it has yet to gain entry into the US, UK, Canada, and other restricted regions. In 2023, OKX withdrew its Virtual Asset Service Provider (VASP) license application in Hong Kong. This setback highlighted the difficulties of meeting regulatory demands in certain jurisdictions.

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