Cryptocurrency Exchange Kraken has announced that it can expand its offering across European Union member countries after securing licenses in the market for the Crypto-Assets (MICA) framework.
In a notice Wednesday, Kraken said he received a MICA license from the Central Bank of Ireland, allowing the exchange to provide regulated services to residents of 30 European Economic Area Member States. The approval followed the market for the February Financial Instruments Directive (MIFID) license and Kraken secured the Electronic Money Institution (EMI) license in 2023.
“We believe that trust is the most valuable currency in crypto, and that’s what you earn. Over the past few years, our team has been tirelessly working to meet the expectations of (the Central Bank of Ireland) gold standard regulations.”
Other crypto exchanges seeking to expand regulated services to the EU region may be seeking MICA approval. Coinbase, Okx, Crypto.com and Bybit announced all MICA licenses in 2025.
Related: Despite Trump’s support, Crypto chooses mica over the US: Paybis
After detailed discussion and discussion from EU policymakers, MICA, which began to take effect in 2024, aimed at establishing regulatory consistency across the digital assets region.
However, not all crypto companies are on board. Stablecoin Issuer Tether says it will not pursue MICA registration for USDT (USDT) Stablecoin, leading to several exchanges that list tokens.
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We’ll keep up with the regulations of Mica Crypto
Kraken’s MICA notification moved to Wyoming with “pro-crypto policymakers and constructive regulatory awareness.” nearly a week after the exchange moved its global headquarters to Wyoming.
With much of its operations still in the United States, Kraken is currently subject to US laws being considered by Congress to establish a framework for the digital asset market structure in Congress and provide regulatory guidelines for payment stability coins.
In March, the Securities and Exchange Commission (SEC) dropped a civil lawsuit against the exchange filed in 2023, claiming that Kraken was operated as an unregistered exchange, broker, dealer and clearing agency.
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