Crypto exchange Kraken has officially secured a MiCA license from the Central Bank of Ireland, allowing it to expand its regulated services across all 30 member states of the European Economic Area (EEA).
Significance of MiCA License for Kraken
The MiCA license represents a significant step in Kraken's development as it will provide regulatory clarity and consistency in the crypto environment. This license will enable Kraken to offer digital asset services to European users under a single regulatory framework.
History of Kraken's Licensing
The most recent license granted to Kraken adds to previously obtained licenses, including a Markets in Financial Instruments Directive (MiFID) license in February and an Electronic Money Institution (EMI) license in 2023. This illustrates the company’s commitment to meeting strict regulatory standards.
Market Reactions and Other Players
Kraken joins other major exchanges like Coinbase, OKX, and Crypto.com that are also pursuing MiCA compliance in 2025. However, not all are on board; Tether has opted not to register USDt under MiCA, leading to some exchanges delisting the stablecoin.
The acquisition of the MiCA license highlights Kraken's efforts to comply with regulatory requirements and strengthen its position in the cryptocurrency market amid growing legal clarity in both the U.S. and EU.
