Kraken Secures MiCA License in Ireland for EU Expansion
Kraken, a leading cryptocurrency exchange, has obtained a Markets in Crypto-Assets (MiCA) license from the Central Bank of Ireland. This regulatory milestone allows Kraken to offer its services across the European Economic Area (EEA), aligning with the EU’s efforts to standardize digital asset regulations under the MiCA framework starting in 2024.
Key Benefits of Kraken’s MiCA License
- Facilitates expansion into all 30 EEA member states
- Complements existing regulatory approvals, including MiFID and EMI licenses
- Strengthens compliance and user trust in the evolving crypto market
Industry Response to MiCA Implementation
While major exchanges like Coinbase and OKX are pursuing MiCA compliance, Tether has chosen not to register its stablecoin under the framework. Arjun Sethi, Kraken’s co-CEO, emphasized the importance of regulatory compliance, stating: ‘Trust remains the cornerstone of sustainable growth in crypto.’
Kraken’s Strategic Positioning in Global Markets
Kraken recently established its global headquarters in Wyoming, recognizing the state’s progressive stance on crypto regulation. This move follows the SEC‘s dismissal of a lawsuit against the exchange, reflecting the dynamic nature of US crypto regulations.
