Major cryptocurrency exchange KuCoin has announced its plans to apply for a MiCAR license in Austria to expand its presence across the European Union.
MiCAR: A New Regulation for Crypto Assets
As of last December, the EU's MiCAR framework went into effect, standardizing policy for digital asset operators and stablecoin issuers. This regulation allows any licensed firm to offer its services throughout the entire European Economic Area.
KuCoin's Plans to Enter the EU
KuCoin has applied for MiCAR approval in Vienna via its local subsidiary KuCoin EU Exchange GmbH. The company also plans to establish a headquarters in Austria, using the country as a base to launch its operations in the European crypto market.
KuCoin Management's Response
KuCoin EU CEO Oliver Stauber stated that the company is excited to enter Europe's regulated markets. COO Christian Niedermueller shared this sentiment, expressing pride in bringing KuCoin to a new level in Europe.
The MiCAR license would allow KuCoin to expand its services to the entire European market, joining other firms that have already obtained this license.
