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Kraken secures MiCA license to offer digital asset services across the European Union’s 30 EEA member states.
This significant milestone aligns with new EU regulations under the Markets in Crypto-Assets (MiCA) framework, enforced from 2024. The license was issued by the Central Bank of Ireland, authorizing Kraken to expand its regulated crypto offerings. This achievement follows Kraken’s earlier acquisition of a MiFID license in February and an EMI license in 2023.
Kraken’s leadership highlighted the importance of building trust through regulatory compliance. Co-CEO Arjun Sethi emphasized their dedication to meeting the highest standards. With the MiCA license, Kraken joins other major platforms like Coinbase, OKX, and Crypto.com in shaping Europe’s crypto future.
Not all companies, however, are embracing MiCA. Tether, issuer of the USDT stablecoin, announced it will not pursue MiCA registration. This decision has led some exchanges to delist the token, creating uncertainty among users and developers relying on stablecoin support.
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Regulatory clarity gives Kraken an edge in Europe
MiCA brings consistency and clarity to Europe’s fragmented crypto regulations. It offers a unified framework for all digital asset providers, streamlining compliance and increasing consumer protection. With this clarity, Kraken is well-positioned to become a leader in the EU crypto market.
The license also represents a strategic move amid regulatory challenges in the U.S. Kraken recently shifted its global headquarters to Wyoming, praising the state’s crypto-friendly approach. This relocation reflects Kraken’s dual strategy of expanding internationally while navigating domestic uncertainty.
While the U.S. continues to develop its own crypto laws, the EU is moving faster with MiCA. The SEC dropped its lawsuit against Kraken earlier this year, signaling a potential shift in U.S. regulatory attitudes. Still, Kraken’s MiCA license gives it a head start in compliant global operations.
Kraken secures MiCA license while U.S. plays catch-up
For gamers and investors alike, this could mean faster adoption of crypto services within gaming ecosystems. Regulated exchanges like Kraken can now support seamless transactions, better fiat onramps, and improved user trust across Europe. This development is crucial for crypto gaming, where speed, security, and compliance are vital.
With more exchanges seeking MiCA licenses, the landscape is evolving rapidly. Projects that align with regulatory standards are likely to thrive, while others may struggle to maintain relevance.
Kraken’s regulatory success sets a precedent. As crypto continues to intersect with finance, gaming, and entertainment, licensing under MiCA could become the industry standard.
