The collar has joined the growing list of digital asset companies to obtain a license to operate in the European Union under Bloc’s Markets in Crypto Assets (MICA) regulation, giving the company access to 30 countries in the European market.
In a blog post, the Kraken, one of the largest digital asset exchanges in the world through trade in volume, announced that it had received a MICA license from Ireland, which allowed the exchange to work in all 30 countries in the European economic field (EEA), which includes the 27 EU Member States Plus Island, Liechtenstein and Norway.
The full MICA regulations for Crypto Asset Service suppliers (CASPS), for example exchange Like the Kraken came into force in early January. This included a mandate that CASPs must receive a license from a national competent authority (NCA) – an EU Member State’s relevant supervisory authority – to offer digital asset services within the EEA.
The Craken already maintains virtual asset service provider (vasp) registrations in a number of EU countriesIncluding France, Belgium, Spain and the Netherlands, but this comes with limited scope, and such registration is generally primarily focused on money laundering and terrorist. An Mica license from Ireland, on the other hand, means that the company can now legally work all over the EEA and must follow Mica obligations—InCuling of investors’ protection, market integrity, precautionary requirements and disclosure – to be enforced by authorization NCA.
“Ensuring a license from the Central Bank in Ireland, with its long inheritance and experience as a rigorous financial regulator, is not just about compliance. It is a powerful signal of the crunch’s commitment to expand the crypto eecosystem through responsible innovation,” said Arjun Sethi, Co-Ceo for the Crake. “Being the first major global cryptop platform that gets permission from the CBI confirms the Crak’s commitment to build in the long term. We believe that confidence is the most valuable currency in crypto, and that is something you earn.”
He added that the license places the company “in a strong position to expand our product range, grow our institutional and retail customer base and deliver safe, accessible and fully regulated crypto services to millions more people across the EU.”
The Kraken announcement comes a week after Reuters reported that colleagues digital assets exchange giants Coin base (Nasdaq: Coins) and Gemini was also about to get Mica licenses – a fact that according to the report was arouses some worries If the strictly the supervisory authorities assessed Applications and maintain the rules.
The regulators in the limelight were Malta – which has been particularly active to approve licenses – and Luxembourg. So far, no such problems have been raised with regard to Ireland’s central bank.
The kraken – and if rumors are true, soon coinbase and gemini – go OKXThe Crypto.comThe Villageand Bitmamp In the growing cohort of digital asset players who have obtained licenses to function within the EEA under the new regulation.
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