Kraken, a well-known cryptocurrency exchange, announced the acquisition of a license under the new MiCA regulatory framework, enabling it to offer services in 30 EU countries.
MiCA License from the Central Bank of Ireland
On Wednesday, Kraken announced that it had received a MiCA license from the Central Bank of Ireland. This allows the company to provide regulated services to residents in 30 European Economic Area countries. The license follows Kraken securing a MiFID license earlier this year and an Electronic Money Institution license.
Context of Kraken's Expansion and Other Exchanges
According to reports, other cryptocurrency exchanges such as Coinbase, OKX, and Crypto.com are also seeking regulatory expansion in the EU, having received MiCA licenses in 2025. Gemini is reportedly on track for approval in Malta. These developments signal a growing interest from exchanges in the European market.
Comparison of Regulations in Europe and the US
MiCA is set to take effect in 2024 following extensive discussions among EU policymakers. This initiative aims to establish regulatory consistency for digital assets across the region. However, not all companies are on board: stablecoin issuer Tether has stated that it will not pursue MiCA registration for its USDt token.
By obtaining the MiCA license, Kraken takes a significant step in expanding its influence in Europe, highlighting the trend toward increasing cryptocurrency market regulation in the EU compared to the US.
