Kraken crypto exchange has obtained work permits in all 30 member states of the European Economic Area (EEA) due to Markets in Crypto-Assets Regulation (MiCA) licenses provided by the Central Bank of Ireland.
The license will allow the exchange to offer a wider range of fully regulated products, including trading, derivatives and payment solutions.
The MiCA approval comes after Kraken acquired Markets in Financial Instruments Directive (MiFID) license through its Cyprus regulated structure in February.
In doing so, Kraken joined the ranks of players such as Coinbase, Bitstamp, and Crypto.com, which have received similar approvals in jurisdictions such as Luxembourg and Malta.
In March, Kraken also received an e-money institution license from the UK’s Financial Conduct Authority, allowing it to partner with traditional financial institutions and offer a wide range of services to users in the region.
The MiCA requires crypto exchanges and platforms to obtain regulatory approval and adhere to common standards to operate in the EEA region.
Source: Kraken
Spelling error report
The following text will be sent to our editors: