Kraken Becomes Latest to Win a License Under Europe's New Rules
Kraken has obtained a regulatory license under the EU's Markets in Crypto Assets (MiCA) framework from the Central Bank of Ireland, allowing it to provide crypto services across 27 EU member states and three EEA member states. This license positions Kraken to expand its product offerings and client base while ensuring secure and regulated services. The euro's share of global fiat spot crypto trading volume has increased to 17.5%. The approval follows a similar license granted to Coinbase in Luxembourg, indicating a trend among major crypto platforms to comply with MiCA regulations. Concerns have been raised about firms potentially seeking approval in jurisdictions with less stringent regulations, which could undermine enforcement standards. The European Securities and Markets Authority is reviewing Malta's licensing practices and will release a report on its findings. Kraken also holds registrations as a Virtual Asset Service Provider in several EU countries.
