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Is OKX prohibited in France?
A persistent rumor suggested that Kex was prohibited in France . However, the exchange is back. So what really happened? Why did OKX suspend its services in France, when it was already registered with the AMF (Financial Markets Authority)? And above all, what are the changes made by the MiCA license which allowed this return in force of OKX France ?
We will explore in detail the regulatory situation of OKX, its obtaining PSAN approval in France, then the way in which the MiCA clarifies all of its offer. We will also see how to take advantage of the advanced features of the platform ( cryptocurrency trading stuking , bots, etc.), and finally we will list the alternatives for those who wish to compare before registering.
We will also offer some tips on how to store your themselves, directly on the blockchain , in order to avoid certain drawbacks linked to centralized exchanges.
Table of contents
Why could we believe that Kex was prohibited in France?
To fully understand the story, you have to go back to December 2023 . During this period, OKX obtained the PSAN recording (service provider on digital assets) from the AMF. This PSAN status is essential for a Crypto company to offer its services on the French market, because it guarantees at least the compliance of the platform with the basic rules of national regulation:
- Implementation of KYC (Know Your Customer) procedures,
- Fight against money laundering and terrorism financing (AML/CFT),
- Safety and conservation of funds under demanding conditions.
Despite everything, in fact, registering an Exchange as PSAN does not automatically allow it to offer all of its products. As soon as we touch more complex services (derivatives, term contracts, etc.), French regulation is particularly picky. This is the reason why, after having obtained his PSAN recording, OKX decided to suspend part of his services in France, perhaps to avoid confronting the restrictions imposed by the AMF on certain risky products.
As a result, this suspension sowed confusion among users, who believed that OKX was prohibited in France . However, the platform did have PSAN approval, but not in the conditions allowing it to fully deploy its offer. Hence the regulatory vagueness that pushed OKX to set back, pending a more homogeneous and clearer frame at European level.
The arrival of the MiCA license: a new start for Okx France
On February 18, 2025 , the new tomb: OKX obtained the MiCA license (Markets in Crypto-Astets) from its European entity based in Malta. MiCA is a regulatory framework set up by the European Union to harmonize the rules on cryptocurrencies throughout the EEA (European Economic Area). Thanks to this license, OKX is no longer unavailable in France.
Unlike national provisions (such as French PSAN status), the MiCA offers a European passport . In other words, if an exchange is validated in one of the Member States, it can offer all of its services in the 28 countries concerned, without having to return by registration procedures by country.
For OKX , this is a major change. Not only is the exchange now free to operate in France legally.
This evolution is crucial for many fans of decentralized finance. Before MiCA , OKX had to deal with the sometimes contradictory laws of each Member State, which mechanically limited its development in Europe. MiCA license simplifies procedures, provides a more homogeneous level of security, and clarifies the offer offered to users.
In short, we understand better why OKX is "back" in France in February 2025 : the exchange has chosen to wait for the implementation of the new European regulatory framework to reactivate its services, both at French and European level.
What does the MiCA license really imply for OKX in France?
Beyond the simple notion of "European passport", the MiCA license has several components which directly interest the user:
Product offer extension
- With MiCA , OKX can offer its French customers a full palette of trading services : spot, margin, derivatives (future, options), etc.
- PSAN recorded platforms could already offer certain options, but often with a more restrictive framework.
Transparency and security obligations
- MiCA requires exchanges important transparency measures on fund management, the publication of proofs of reserves, or even solvency.
- The user can thus more easily check the financial solidity of the platform, which significantly reduces the sudden risk of collapse (like that of FTX).
Confidence and recognition on the markets
- European banks and financial institutions being more inclined to work with platforms with MiCA , OKX benefits from easy access to payment services (SEPA integration, Ideal, Bancontact, etc.).
- For the user, it is the guarantee of being able to deposit and withdraw their euros without incident.
Regulatory convergence
- MiCA Homogenize constraints and obligations in each member country, avoiding distortions of competition.
- Therefore, an exchange can deploy the same interface and the same products for the entire European market, without fear of being blocked in this or that state.
How to use OKX France today?
KYC registration and verification
The first step to use OKX is to create an account on the platform and proceed to the KYC . At the time of registration, you will have to provide:
- An identity document (passport, identity card or driving license),
- Sometimes proof of address (electricity bill, telephone, internet, etc.),
- A selfie or a short video to authenticate your face.
The procedure remains relatively fast, a few minutes are enough. You will then receive validation or request for additional information. This process is part of the requirements to combat money laundering and the financing of terrorism imposed by the AMF and by MiCA .
Deposits and withdrawals in euros
Once your account is validated, you can feed your balance in euros . Generally, OKX supports the SEPA transfer and the bank card (Visa/Mastercard) , sometimes other payment gateways like Ideal or Bancontact depending on your country of residence. Deposits and withdrawals via SEPA are the privileged method for the majority of users in France, especially for larger amounts, because the costs are very low, even zero.
Cash trading and derivative products
- Trading spot (cash) is to buy and instantly sell cryptocurrencies such as Bitcoin ( BTC ), Ethereum Ethereum ETH) or any other at ltc Oin (OKX offers more than 300). Users can select Crypto-Crypto pairs (eg BTC /ETH, ETH / USDT ) or crypto-fiat pairs (eg BTC /EUR).
- Derivative products (term contracts, options) make it possible to bet on volatility without really holding the underlying asset. This offer was one of the delicate points with regard to French regulation. From now on, OKX can offer it legally, thanks to the MiCA .
EARN Staking and Services
OKX also offers staking , loans or earn , allowing crypto holders to generate passive return. For example, you can "stake" (lock) your ETH to get rewards, or participate in liquidity pools.
However, before starting, it is essential to understand that these products involve specific risks:
- The protocols on which these yields are based may have vulnerabilities.
- The rate of return is never guaranteed 100 %.
Trading bots
A particularity at OKX: the platform incorporates configurable trading bots You can implement grid strategies, DCA (Dollar Cost Averaging), or even arbitration. This feature is practical for investors who prefer to automate their strategies while keeping a certain freedom of configuration (number of grids, price intervals, etc.).
Use of an integrated wallet and interactions DeFi
OKX has also developed its own web3 portfolio , offering the possibility of browsing various blockchains, interacting with decentralized finance ( DeFi ) and storing its NFT . This is a non-custodial portfolio, which means that you keep control of your keys and the responsibility of your funds. It is a way not to centralize everything on the trading account, which remains a crucial aspect for long -term security.
What are the alternatives to OKX?
Even if OKX is now perfectly operational, it is always interesting to compare to find the platform most suited to your trading or investment goals.
- Binance : a global giant, leader in exchange volume. Offers a very wide ecosystem ( BNB Chain, Launchpad, Staking, etc.). However, French regulation keeps an attentive eye on Binance , and it also had to face adjustments to stay in compliance.
- Coinbase : often considered the simplest solution for beginners, thanks to a user interface and solid banking partnerships. The costs can be higher than at others, but the notoriety and safety of Coinbase reassure many users.
- Bitvavo : Based in the Netherlands, this platform is particularly appreciable by displaying transparent costs and not using hidden spreats. The design is refined and is suitable for investors of any level who want to trader cryptocurrencies without too many complications. In the European framework, Bitvavo also complied with local rules and offers fluid services, especially for French residents who wish to diversify their accounts on a reliable Exchange.
What if you prefer not to go through a centralized exchange?
Beyond the question "OKX prohibits in France or not", often the question of decentralization . If you fear any blockages, suspensions, or if you simply prefer to hold your funds without intermediaries , you can buy your cryptocurrencies using non-custodial services.
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Buy directly on a Dex (decentralized exchange)
- Some DeFi protocols , such as Uniswap , Sushiswap , Pancakeswap , etc., allow tokens to trade directly via your private wallet , without creating an account on a centralized exchange.
- On the other hand, it is already necessary to have cryptos to pay the gas costs and know how to use the blockchain (in particular Ethereum , BNB Chain, or others).
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Decentralized Fiat-To-Crypto Ramps
- Solutions like Ramp Network, MoonPay or Sardine offer the purchase of crypto by bank card or transfer by integrating into a decentralized portfolio (Metamask, Exodus, Trust Wallet , etc.)
More information here
You then become the sole holder of private keys, therefore the sole responsible for the security of your funds.
Wallet hardware storage
- Once your cryptocurrencies have been acquired, nothing prevents you from transferring them to a Ledger or a Trezor , two brands of material portfolio recognized for their solidity.
- Thus, you avoid any risk of hacking an exchange or account suspension.
Admittedly, these decentralized trading methods are sometimes more complex to set up. But they guarantee total sovereignty on your digital assets, which remains the very essence of the blockchain .
A free guide to understand everything step by step
For those who wish to embark on the adventure, or even explore another Psan approved platform, we have developed an ultra-detailed guide with screenshots at each stage. In this guide, you will find:
- How to create an account on a centralized exchange,
- KYC verification of the first time,
- How to deposit and withdraw euros safely,
- How to decentralize your funds and interact directly with the blockchain,
- Practical advice to avoid beginner (or intermediary) errors.
The idea is to demystify the functioning of a centralized exchange and to help you navigate between traditional finance and decentralized finance ( DeFi ). Screenshots and explanations step by step will allow you to keep confidence at each stage . To receive it, fill out the form below:
Conclusion: OKX prohibited in France? Not really, and here is why ...
To sum up in a concise way, OKX has never been really prohibited in France . It was certainly recorded PSAN with the AMF since December 2023, but the platform preferred to suspend a good part of its services to avoid conflicts with national regulations, in particular on derivatives.
When the MiCA license entered into force in January 2025, OKX obtained a European passport which enabled it to redeploy all its offer in France. Since February 2025, OKX France is therefore fully functional, with secure access, the possibility of depositing and withdrawing euros easily, and a range of products (spots, derivatives, stuking, Earn, trading boots).
For the end user, this is excellent news , because it diversifies the regulated platforms available in Europe.
Finally, if you are still afraid of entrusting your cryptocurrencies to a centralized intermediary, you can always turn to decentralized and Dex . In this case, remember that you must already have crypto to pay network costs and learn to secure your private keys yourself (explained in our guide).
In the end, OKX is far from prohibited in France . It simply went through a strategic withdrawal phase to comply with the best regulatory practices.
To better understand the status of different exchange platforms in France such as those on black list like Bitget , Kucoin and Mexc , we invite you to read our different articles on the subject.
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
