Kraken Secures MiCA License in Ireland — The Exchange Can Now Operate Across Europe
US-based crypto exchange Kraken has received a MiCA license (Markets in Crypto-Assets) from the Central Bank of Ireland. This allows it to offer services in all 30 countries of the European Economic Area (EEA).
? What is Kraken?
Kraken is one of the oldest and largest cryptocurrency exchanges in the world. Founded in 2011 in the US, it offers trading in over 200 cryptocurrencies, including Bitcoin, Ethereum, and stablecoins. The exchange also provides staking, futures, and institutional services.
? What is the MiCA license?
MiCA (Markets in Crypto-Assets Regulation) is a unified EU regulation coming into effect gradually from 2024. It governs the issuance and trading of crypto assets, including stablecoins and crypto exchanges. The goal is to create a safe and transparent environment for investors and eliminate legal uncertainty.
? With its MiCA license in Ireland, Kraken can offer crypto exchange, custody, and trading services throughout the EEA without needing separate authorizations in each country.
? Context:
- In June, Coinbase received its MiCA license in Luxembourg
- In May, Bybit was granted a similar approval in Austria
- Major exchanges are quickly adapting to the new EU regulatory framework, which becomes mandatory in December 2024
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