Crypto exchange Kraken has announced its acquisition of Coin Meester B.V. (BCM), one of the oldest registered crypto brokers in the Netherlands. This move is part of Kraken's strategy to expand in Europe amid emerging new regulations.

Strengthening Kraken's European Presence

Coin Meester B.V. (BCM) is a well-established crypto broker in the Dutch market. As a registered Virtual Asset Service Provider (VASP), BCM complies with regulatory standards in the Netherlands, France, and Poland. Kraken plans to expand its presence in the Netherlands, a key European crypto market. Over the past two years, Kraken has been accelerating its expansion across countries like Germany, Spain, and Italy.

Preparing for MiCA Regulations

BCM's acquisition by Kraken is crucial as MiCA regulations are set to take effect in December. MiCA aims to create a regulated digital asset environment protecting users and fostering innovation. Kraken's main goal is to address the fragmented nature of the European cryptocurrency market. As the competitive environment intensifies, consolidation increases. Kraken is rapidly expanding its European presence, securing VASP licenses and forming partnerships in several countries.

The acquisition of Coin Meester B.V. supports Kraken's expansion strategy in Europe. MiCA regulations highlight the need for regulated crypto markets, and Kraken aims to lead in this transition.