OKX Shields European Accounts with Separate Legal Entity

OKX Shield has been launched by OKX, a cryptocurrency exchange, to protect European accounts from potential regulatory scrutiny. The service aims to safeguard user assets and ensure compliance with EU regulations.

The introduction of OKX Shield follows recent changes in the European Union's Payment Services Directive (PSD2) and the upcoming Markets in Crypto-Assets (MiCA) regulation.

According to the company, OKX Shield is a 'separate legal entity' that will hold user assets, providing an additional layer of protection for customers.

The service is designed to ensure that customer assets are segregated from those of the exchange, reducing the risk of regulatory issues and protecting users in the event of an insolvency.