Kraken Strengthens EU Presence as MiCA License Clears Path for Expansion

Kraken has obtained a Markets in Crypto-Assets (MiCA) license from Ireland’s central bank, enabling it to deliver regulated crypto services across 30 European states, strengthening its foothold in a rapidly evolving regulatory environment. Regulatory Breakthrough in the EU Crypto exchange Kraken has received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework, marking a significant development in its European growth strategy. The license, issued by the Central Bank of Ireland, grants Kraken the authority to provide regulated digital asset services across all 27 EU member states and three additional nations within the European Economic Area (EEA). The approval positions Kraken as one of the first major international crypto firms to align fully with MiCA, a landmark regulatory regime designed to unify crypto oversight across the EU. Strengthening Kraken’s European Presence Kraken announced the regulatory milestone in an official statement, describing it as a strategic move to expand its services and client base across Europe. The company emphasized that the new license is not merely a compliance achievement but a demonstration of its long-term commitment to the region’s crypto ecosystem. Arjun Sethi, co-CEO of Kraken, highlighted the significance of securing authorization from Ireland’s central bank, which is an institution known for its rigorous financial oversight. He noted that the approval underscores Kraken’s dedication to responsible innovation and market trust, which he described as “the most valuable currency in crypto.” Building on Established Regional Operations Even before this MiCA license, Kraken acquired Virtual Asset Service Provider (VASP) registrations in key European markets, including Ireland, Belgium, France, Italy, the Netherlands, Poland, and Spain. The exchange has maintained a strong presence in euro-denominated trading since 2013, having introduced the first BTC/EUR trading pair. With the MiCA authorization, Kraken aims to expand its offerings across retail, institutional, and professional market segments. Its regulated services will now cover spot trading, derivatives, and payment solutions, further solidifying its position as a leading euro market trading platform. MiCA’s Broader Industry Impact Kraken’s approval arrives shortly after Coinbase secured a similar license in Luxembourg, illustrating how major exchanges are actively positioning themselves ahead of MiCA’s full implementation. The framework, which came into force at the end of last year, introduces standardized consumer protections, transparency requirements, and operational oversight for crypto service providers across the EU. However, the MiCA framework has also attracted scrutiny. Critics caution that the current passporting system, which allows firms licensed in one EU jurisdiction to operate throughout the bloc, could incentivize exchanges to register in member states with more lenient regulatory standards. The European Securities and Markets Authority (ESMA) is currently examining Malta’s licensing regime, with a report expected in the coming weeks. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

Source: Crypto Daily