Hex Trust, a Hong Kong-based digital asset custodian, has made significant strides in its European expansion plans by securing registration in France. This follows its approval in Italy last year, marking a crucial milestone in the firm’s growth strategy.
Hex Trust Expands to Europe with French Registration
The registration, granted by France’s Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR), allows Hex Trust to offer digital asset custody, buying, selling, and trading services in France, in addition to Italy.
Impact of New EU Laws
This development is particularly significant in light of the new European Union laws set to take effect in 2024. Under these laws, exchanges and wallet providers licensed in one EU country will be able to operate across the entire 27-nation bloc. This process, though more demanding than registration, involves checks on governance and financial health.
France: A Crypto-Friendly Destination
France has become a preferred destination for cryptocurrency firms due to its favorable stance towards the industry. The country offers tax cuts on crypto profits and a simplified registration process with financial watchdogs, making it an attractive hub for companies like Hex Trust.
As the firm continues to expand its regulated footprint in Europe, it is well-positioned to leverage these benefits and further solidify its presence in the region.
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