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Hex Trust obtains DASP registration in France ahead of MiCA coming into effect in Europe

Hex Trust has obtained the Digital Asset Service Provider (DASP) registration granted by Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France.

With the DASP registration, institutional-grade digital asset custodian is now allowed to provide digital asset custody, the purchase/sale of digital assets for legal tender, and the trading of digital assets against other digital assets.

The French regulators are taking a progressive stance towards digital assets, intending to transform the country into a crypto hub of Europe. French officials have recently welcomed US crypto firms fleeing regulatory crackdown. It was last month that Societe Generale secured the first crypto license in France.

A key step towards being licensed in France and soon in the European Union

The DASP registration is a key step towards being licensed in France and soon in the European Union (EU) under the Markets in Crypto-Assets Regulation (MiCA).

It is a significant milestone for Hex Trust as it expands in Europe and grows its presence to become one of the continent’s leading licensed digital asset custodians.

Hex Trust opened its first European office in Milan (Italy) in May 2022 and successfully completed its registration with the Italian Virtual Asset Services Provider (VASP) registry of Organismo Agenti e Mediatori (OAM) in June 2022.

Alessio Quaglini, CEO & Co-founder of Hex Trust, said: “Receiving the DASP registration from a major EU Regulator is an important vote of confidence and demonstrates our commitment to Hex Trust’s ongoing expansion in Europe. The EU is a key market for Hex Trust, as we see strong growth potential and prepare for the European MiCA regulation, set up to regulate the digital asset industry in the region by 2024.”

Hex Trust is unrelated to Hex, founded by Richard Heart, who is being charged with fraud and unregistered securities offerings in the United States.

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