Crypto exchange OKX has secured a MiFID II license, allowing it to offer derivatives products across the European Union. Confirmed by OKX’s Europe CEO, Erald Ghoos, on March 12, this license follows the exchange's recent registration under the Markets in Crypto-Assets (MiCA) framework, which enables it to provide localized services in 28 EU markets. While MiFID II pertains to all financial instruments and necessitates registration for crypto derivatives platforms, MiCA governs services related to cryptocurrencies that are not classified as financial instruments. OKX, headquartered in Seychelles, is among the largest cryptocurrency exchanges globally by daily trading volume, having processed nearly $3.7 billion in spot trades on the same day. The demand for cryptocurrency derivatives is increasing as institutional investors enter the market, with a recent report indicating that the crypto derivatives market reached nearly $7 trillion, significantly surpassing its previous peak. Even amidst regulatory discussions following 2022's market challenges, the crypto derivatives sector is projected to grow and adapt, driven by new product launches catering to investment and hedging needs.

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