France: Major Crypto Exchanges OKX and Gemini Obtain PSAN Registration

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The French regulatory landscape for digital assets is gaining momentum as two major global cryptocurrency exchanges, OKX and Gemini, have officially secured their PSAN (Prestataires de Services sur Actifs Numériques) registration from the Autorité des Marchés Financiers (AMF). This marks a significant milestone in France’s efforts to establish itself as a trusted hub for compliant crypto innovation in Europe.

The announcement, made public on December 14, 2023, confirms that both platforms are now authorized to legally operate a range of digital asset services within the country — a clear signal of growing institutional confidence in France’s structured regulatory framework.

What Is PSAN Registration?

PSAN registration is a mandatory requirement under French law for any company offering cryptocurrency-related services to French residents. Administered by the AMF, this regulatory status ensures that crypto platforms adhere to strict standards regarding customer protection, anti-money laundering (AML), cybersecurity, and transparency.

To obtain PSAN status, exchanges must demonstrate robust compliance procedures, secure custody solutions, and clear operational frameworks. The approval process is rigorous, making it a mark of trustworthiness for users and investors alike.

With MiCA (Markets in Crypto-Assets Regulation) set to roll out across the EU in 2025, national registrations like PSAN serve as important stepping stones for global platforms preparing for full compliance.

OKX and Gemini: Now Fully Registered in France

Both OKX and Gemini have been added to the official AMF PSAN registry, allowing them to provide the following core services:

In addition, Gemini has also been approved to operate a digital asset trading platform — a critical capability that enables it to directly serve French retail and institutional clients.

While neither company issued a public statement at the time of registration, the move aligns with their broader European expansion strategies. For Gemini, founded by Cameron and Tyler Winklevoss, this represents a strategic entry into the French market, which the exchange had previously approached with caution.

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Why France?

France has emerged as one of the most proactive jurisdictions in Europe when it comes to regulating the crypto industry. Unlike some countries that adopt restrictive or ambiguous stances, France offers a clear, transparent, and business-friendly regulatory environment.

This clarity has attracted numerous international players seeking early compliance advantages ahead of MiCA. By registering now, OKX and Gemini position themselves as first-movers in a market poised for long-term growth.

Other companies approved on the same day include Cifralfabeto and Jobchain, further indicating increased activity within France’s fintech ecosystem.

OKX: A Rising Force in the Global Crypto Market

While Binance continues to face regulatory scrutiny worldwide, OKX has capitalized on shifting market dynamics to strengthen its position as one of the leading centralized exchanges globally.

According to data from DefiLlama, OKX ranks third among centralized exchanges by total assets under management (AUM), holding approximately $12.68 billion — just behind Bitfinex.

Impressive Growth Metrics

Though market-wide price rallies have contributed to these figures, OKX’s growth remains the strongest percentage-wise across all major platforms during this period. This reflects not only rising user adoption but also confidence in its security, product offerings, and global compliance roadmap.

The exchange has also made headlines recently by launching its own Layer 2 blockchain solution powered by Polygon’s development toolkit — an innovation aimed at improving scalability and reducing transaction fees for users.

This technical advancement complements its regulatory progress, showcasing OKX’s dual focus on cutting-edge technology and institutional-grade compliance.

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Strategic Expansion into Europe

OKX’s PSAN registration follows its earlier announcement of establishing OKX France, a localized entity designed to meet regional regulatory and customer needs. This includes plans for localized customer support, EUR-denominated trading pairs, and educational initiatives tailored to French users.

Such localization efforts go beyond mere compliance — they reflect a deep commitment to building trust and accessibility in new markets.

With operations now formalized in France, OKX is well-positioned to expand further across the EU as MiCA takes effect. The regulation will harmonize crypto rules across member states, but early movers like OKX will enjoy brand recognition and operational readiness advantages.

What This Means for Crypto Users in France

For French investors, the arrival of regulated global exchanges brings several benefits:

Regulated exchanges are required to implement Know Your Customer (KYC) protocols, secure cold storage for assets, and maintain detailed audit trails — all of which enhance safety and accountability.

Additionally, having reputable platforms like OKX and Gemini operating locally may encourage more traditional investors to enter the crypto space with greater confidence.

Looking Ahead: The Road to MiCA Compliance

As Europe prepares for the full implementation of MiCA in 2025, national frameworks like PSAN play a crucial role in bridging the gap between current practices and future EU-wide standards.

Platforms that have already secured PSAN status are likely to transition smoothly into full MiCA compliance, giving them a competitive edge over latecomers.

France’s proactive stance could make it a preferred jurisdiction for crypto firms aiming to serve the broader European market — much like how Ireland or Luxembourg became hubs for fintech and banking services.

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Frequently Asked Questions (FAQ)

Q: What does PSAN mean for crypto users in France?
A: PSAN ensures that crypto platforms meet strict regulatory requirements for security, transparency, and consumer protection. Users benefit from safer transactions and recourse options if issues arise.

Q: Can I use OKX and Gemini in France now?
A: Yes. Both exchanges are officially registered with the AMF and can legally offer their services to French residents.

Q: Does PSAN registration mean full MiCA compliance?
A: Not exactly. PSAN is a French national framework, while MiCA is an EU-wide regulation coming into force in 2025. However, PSAN registration demonstrates strong alignment with MiCA principles.

Q: Are my funds safe on registered exchanges like OKX?
A: Registered platforms must follow stringent custody and risk management protocols. While no investment is risk-free, PSAN status significantly enhances security compared to unregulated platforms.

Q: Do I need to pay taxes on crypto trades through these platforms?
A: Yes. All cryptocurrency transactions are subject to French tax laws. Registered exchanges may provide reporting tools to help users track gains and comply with tax obligations.

Q: Will more exchanges apply for PSAN?
A: Yes. As regulatory clarity improves and user demand grows, more international platforms are expected to seek PSAN registration to access the French market.

Core Keywords:

By securing PSAN status, OKX and Gemini are not just complying with local rules — they’re helping shape the future of a responsible, transparent digital asset economy in Europe.