Cryptocurrency exchange Kraken has received an Electronic Money Institution (EMI) license from the Central Bank of Ireland and a Virtual Asset Service Provider (VASP) registration from the Bank of Spain.
According to a September 26 announcement, the EMI license enables Kraken to expand its euro-to-crypto trading services to 27 EU member states and European Economic Area countries. At the same time, VASP registered in Spain allows Kraken to provide exchange and wallet custody services to Spanish residents. The company is also registered as a VASP in Italy and Ireland.
Curtis Ting, Kraken’s Vice President of Global Operations, commented: “We see a solid foundation for cryptocurrencies in Europe, and its forward-looking regulation allows us to grow with confidence.” The platform currently supports six fiat currencies (GBP, EUR, More than 200 trading pairs for USD, CAD, CHF and AUD).
On September 21, Cointelegraph reported that Kraken was sued by the Australian Securities and Investments Commission (ASIC), accusing its Australian subsidiary Bit Trade of failing to make market decisions before providing margin trading services. Jonathon Miller, managing director of Kraken’s Australian operations, said ASIC’s move was surprising as he believed Bit Trade complied with local regulations.
Earlier this year, Kraken applied for restricted dealer registration in Canada to comply with new regulations requiring all VASPS to register with securities regulators or face deportation. Binance and OKX exchanges follow new rules to leave Canada.
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