U.S.-based cryptocurrency exchange Kraken announced on Wednesday that it has received a Markets in Crypto-Assets (MiCA) license from the Central Bank of Ireland, paving the way for full-scale expansion across the European Union under the bloc’s new regulatory regime.
The approval allows Kraken to offer regulated crypto services to users in all 30 European Economic Area (EEA) countries, a significant milestone as MiCA enforcement ramps up across the EU.
A Strategic Step in Kraken’s EU Compliance Journey
The MiCA license adds to Kraken’s growing list of European regulatory approvals. It follows the company’s acquisition of a Markets in Financial Instruments Directive (MiFID) license earlier this year and an Electronic Money Institution (EMI) license obtained in 2023. These licenses position Kraken as one of the few major global crypto platforms operating fully under EU compliance.
“We believe trust is the most valuable currency in crypto, and it’s something you earn,” said Kraken co-CEO Arjun Sethi. “Over the past several years, our team has worked tirelessly to meet the [Central Bank of Ireland]’s gold standard regulatory expectations.”
Crypto Exchanges Rush to Secure MiCA Compliance
Kraken is not alone in its push to comply with the EU’s landmark MiCA framework, which aims to bring uniform regulatory standards to the region’s fragmented crypto market. Other exchanges, including Coinbase, OKX, Crypto.com, and Bybit, have already secured MiCA licenses in 2025. Gemini is reportedly next in line, with approval expected from Malta.
With full enforcement of MiCA rules looming in late 2024 and into 2025, securing regulatory clarity has become a top priority for global crypto firms seeking long-term access to Europe’s vast retail and institutional investor base.
