Key Highlights:
- Kraken receives regulatory approval from Ireland’s central bank to operate across the EU under MiCA.
- Follows Coinbase’s similar license in Luxembourg last week.
- License enables Kraken to expand its regulated services to more EU clients.
Kraken Gets the Green Light in Europe
Crypto exchange Kraken has become one of the first major platforms to win approval under the European Union’s MiCA regulations. The license, granted by Ireland’s central bank, allows it to provide services in all 27 EU member states and three EEA states. Co-CEO Arjun Sethi said the approval affirms Kraken’s commitment to long-term, compliant growth in Europe. The euro now accounts for 17.5% of global fiat crypto trading, giving Kraken further incentive to grow its regional footprint.MiCA Pushes Exchanges Toward Regulatory Clarity
The license places Kraken in a competitive race alongside Coinbase, which secured MiCA approval in Luxembourg just a week earlier. MiCA, in full effect since late 2024, is designed to unify rules across the EU for crypto service providers. However, some regulators have raised concerns about regulatory arbitrage, where companies register in lighter-touch jurisdictions to access the entire EU market. A review of Malta’s practices by the European Securities and Markets Authority is currently underway.
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