Several exchanges have announced MiCA licenses this year, following requirements being enforced in 2024 to offer digital asset services in the EU.
Cryptocurrency exchange Kraken announced that it can now expand its offerings and across European Union’s member states after securing a license under the Markets in Crypto-Assets (MiCA) framework.
In a Wednesday notice, Kraken said it had received the MiCA license from the Central Bank of Ireland, allowing the exchange to offer regulated services to residents in the 30 European Economic Area member states. The approval followed Kraken securing a Markets in Financial Instruments Directive (MiFID) license in February and an Electronic Money Institution (EMI) license in 2023.
“We believe trust is the most valuable currency in crypto, and it’s something you earn. Over the past several years, our team has worked tirelessly to meet the [Central Bank of Ireland]’s gold standard regulatory expectations,” said Kraken co-CEO Arjun Sethi.
Other crypto exchanges seeking to expand their regulated services to the EU region have likely sought MiCA approval. Coinbase, OKX, Crypto.com and Bybit have all announced MiCA licenses in 2025, with Gemini reportedly on track for approval in Malta.
Related: Despite Trump’s backing, crypto is choosing MiCA over America: Paybis
MiCA, which began taking effect in 2024 after in-depth discussions and debate from EU policymakers, was intended to establish regulatory consistency across the region for digital assets.
Not all crypto companies are on board, however. Stablecoin issuer Tether has said it will not pursue MiCA registration for its USDt (USDt) stablecoin, leading to some exchanges delisting the token.
US playing catch-up to MiCA crypto regulations
Kraken’s MiCA notice came roughly a week after the exchange moved its global headquarters to Wyoming in “recognition of the pro-crypto policymakers and constructive regulations.”
With much of its operations still in the US, Kraken is subject to US laws currently being considered in Congress to establish a digital asset market structure framework and provide regulatory guidelines for payment stablecoins.
In March, the US Securities and Exchange Commission (SEC) dropped a civil lawsuit against the exchange filed in 2023, alleging Kraken operated as an unregistered exchange, broker, dealer and clearing agency.
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