In a most remarkable turn of events, the esteemed crypto exchange known as Kraken has, with great aplomb, expanded its dominion within the European crypto market by securing the illustrious EU Financial Instruments Market Directive (MiFID) license. This momentous achievement was duly noted in the company’s blog post on the third day of February, in the year of our Lord, 2025. The approval, one might say, was a delightful consequence of the acquisition of a Cyprus investment company, recently bestowed with authorization by the Cyprus Securities and Exchange Commission (CySEC). With this license in hand, Kraken is now poised to offer fully regulated crypto derivatives to the most discerning of traders in select European markets. How splendid! 🎉
“BIG NEWS 📣 We’re excited to announce we’ve obtained a MiFID license in the EU! Yet another key milestone in our expansion strategy, allowing us to offer fully compliant derivatives products across selected EU markets.”
— Kraken Exchange (@krakenfx) February 3, 2025
Shannon Kurtas, the Co-GM of Pro & Exchange at Kraken, has most sagely emphasized the company’s unwavering commitment to European expansion. She has declared that the growth of global services remains a priority, with the EU market playing a most central role. One cannot help but admire such ambition!
“As we continue to expand our services across the globe, our focus on the European market remains a top priority. This acquisition reflects our confidence in the EU and underscores our commitment to providing a trusted, regulated environment for advanced crypto traders and investors,” said Kurtas.
Kraken’s EU Push: EMI and VASP Licenses Secured
Indeed, the European market is a veritable hive of activity for crypto derivatives trading, rendering it a most crucial area for Kraken’s growth. The ability to operate from an EU-regulated base aligns splendidly with its long-term strategy of catering to the most advanced of traders. The platform shall allow them to employ various collateral currencies to back their positions in a manner both flexible and capital-efficient. How very modern! 💼
This, dear reader, is not Kraken’s inaugural foray into the realm of European regulation. In September of the preceding year, the company secured an E-Money Institution (EMI) license from the Central Bank of Ireland, thereby expanding its euro-based fiat services across all 27 EU member states and the European Economic Area. Furthermore, Kraken has also secured registration as a Virtual Asset Service Provider (VASP) with the Bank of Spain, thus fortifying its regulatory foothold in the region. Quite the industrious endeavor!
In February of the year 2024, Kraken further solidified its European presence by obtaining a license in the Netherlands. This was achieved through the acquisition of the Dutch crypto broker BCM in October 2023, a move that was part of its broader effort to establish a firm footing in the Dutch market. How delightfully strategic! 🇳🇱
Kraken’s Long-Term Vision for the EU Market
Kraken has consistently championed a regulatory-first approach to crypto trading. In the year 2019, it acquired Crypto Facilities, a UK FCA-regulated crypto futures platform, leading to the creation of the UK’s first licensed crypto futures platform. This acquisition has undoubtedly solidified Kraken’s commitment to compliance and security, a most admirable trait in these uncertain times.
The exchange continues to lead the charge in regulated trading options for the most sophisticated of investors. The new license enhances compliance with EU standards while broadening access to derivative products. In the forthcoming months, the company shall diligently meet regulatory requirements before launching in local EU markets. How thrilling! 🚀
Yet, Kraken is not alone in its regulatory pursuits. On the 27th of January, 2025, Bitpanda secured Markets in Crypto-Assets Regulation (MiCAR) approval from Germany’s BaFin. This approval permits Bitpanda to offer its services across 27 EU countries under a single regulatory framework. A most commendable achievement!
“Big news: Bitpanda has secured its MiCAR licence, granted by Germany’s BaFin – one of Europe’s top financial supervisory authorities. 🚀 This sets a new benchmark for transparency, security, and trust in crypto across the EU. With this licence, we’re ready to bring regulated…”
— Bitpanda (@Bitpanda_global) January 27, 2025
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2025-02-03 18:42