Kraken has announced that it has secured a regulatory license under the European Union's Markets in Crypto Assets (MiCA) framework. This approval, granted by the Central Bank of Ireland, allows Kraken to provide crypto services across all 27 EU member states and three EEA member states. Arjun Sethi, co-CEO of Kraken, emphasized the significance of this license, stating it reflects the company's commitment to responsible innovation and long-term growth in the crypto ecosystem. This license comes shortly after Coinbase received a similar approval in Luxembourg, indicating a competitive push among major crypto platforms to comply with MiCA regulations as they come into full effect. MiCA aims to establish a clear regulatory environment across the EU for crypto asset service providers, although there are concerns about firms seeking licenses from jurisdictions with less stringent regulations. Whale movements in crypto are also noted, with the euro currently accounting for 17.5% of global fiat spot crypto trading volume, which has doubled in the past year.

Source đź”—