Kraken recorded an important step in its European expansion. The EXCHANGE Crypto obtained a license in the markets in the financial instruments (MIFID).
This license opens the way to Kraken to provide derivative and advanced services in EU member states. Kraken obtained the acquisition of an investment company based in registered Cyprus.
How important is this license for Kraken?
The exchange announced the news in a blog article. He wrote: “This step marks an important step in our expansion strategy, allowing us to offer fully compliant and regulated derivatives to advanced crypto traders on selected EU markets. »»
Shannon Kurtas, Kraken co-gm of Pro & Exchange, said in a press release: “While we continue to extend our services around the world, our concentration on the European market remains an absolute priority. This acquisition reflects our confidence in the EU and underlines our commitment to provide an environment of trust and regulated for merchants and advanced investors. »»
Big news
We are delighted to announce that we have obtained a Mifid license in the EU!
Yet another key step in our expansion strategy, allowing us to offer fully compliant derivatives on the selected EU markets.
– Kraken Exchange (@krakenfx) February 3, 2025
This is not Kraken’s first extension to Europe. Over the past two years, the crypto trading platform has obtained regulatory approval in the main EU states. This includes a license in Spain and Ireland. In addition, the exchange launched a daycare service in the United Kingdom. All this positions Kraken as a key crypto service within the EU.
Europe is preparing for the growth of cryptography with Mica regulations
Crypto and digital assets in Europe have been a significant interest in cryptographic and digital assets. Interestingly, experts predict that cryptographic activity within the EU could rise to 15% by 2030. This statistic places Europe as one of the key centers of digital assets.
To manage this expected growth, the European authorities have introduced regulatory measures, ensuring that crypto is not the West West. Some of these measures include the introduction of the market framework in Crypto-Sets (Mica) assets.
3 / What is mica!?
Mica (Markets in the Crypto-Sets regulation) is the framework of the EU crypto which launched on December 30, 2024.
He:
1) Protects investors
2) Regulates stablecoins
3) Crypto Providers licensesIn simple terms, Mica aims to protect investors and ensure the stability of the crypto …
– Fefe Demeny (@Fefedemeny) December 28, 2024
Mica is the first full framework of the world for crypto. It targets key areas, including money laundering (AML), tokel issues and Stablecoin regulations. Crypto exchanges and other service providers are required to guarantee a license to operate legally in the EU.
What is the next step for Kraken?
Kraken enters a competitive EU derivatives market. It will compete with the main platforms like Bitstamp and Coinbase for the market share. These platforms see Europe as a key point. Kraken wrote that “Europe represents one of our main growth markets.” The new license undoubtedly reflects its ambition.
In addition, the news occurs shortly after Kraken has reintroduced his jealous program, months after calling it. It also occurs while most Crypto exchanges anticipate a better regulatory environment under the new Trump administration.
Non-liability clause
The information discussed by Altcoin Buzz is not financial advice. This is only for educational, entertainment and information purposes. All information or strategies are relevant thoughts and opinions for the accepted risk tolerance levels of the writer / examiners and their risk tolerance may be different from yours. We are not responsible for the losses you may suffer because of any investment directly or indirectly linked to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please make your reasonable diligence. Copyright Altcoin Buzz Pte Ltd.
The Kraken post obtains a MIFID license to offer derivatives in the EU appeared first on Altcoin Buzz.
