Kraken Sets Sail for European Crypto Markets
A prominent US-based cryptocurrency exchange is expanding its reach across key European financial centers.
As per a recent official announcement, Kraken Exchange has successfully acquired an E-Money Institution (EMI) registration from the Central Bank of Ireland, alongside a Virtual Asset Service Provider (VASP) registration from the Bank of Spain.
Kraken’s EMI license in Ireland grants it the capability to collaborate with European banking institutions, while the VASP registration in Spain permits Kraken to function as a cryptocurrency exchange and provider of digital wallets.
Curtis Ting, Vice President of Global Operations at Kraken, stated, “Our dominant position in liquidity and trading volume for EUR cryptocurrency pairs, coupled with our round-the-clock client support and robust security measures, presents an attractive value proposition for prospective clients in Europe. We are deeply committed to further investing in our European operations as we continue to promote cryptocurrency adoption throughout the continent in the coming years.”
In a similar move, Coinbase, the largest cryptocurrency exchange in the United States, recently registered as a cryptocurrency exchange and custodian wallet provider with the Bank of Spain.
READ MORE: Chase Bank and UK Peers Take a Stand Against Crypto Payments
Coinbase’s CEO, Brian Armstrong, recently voiced concerns about what he views as an “unfair” regulatory landscape for US-based firms. Armstrong noted that certain government entities are creating challenges for the cryptocurrency industry’s growth.
He remarked, “This year, we’ve had to shift our focus to policy matters, just as many of you have had to. We find ourselves in an unjust environment where nearly every startup in this field is facing legal inquiries or warnings. There’s a concerted and targeted effort underway to restrict and stifle this industry. I believe the two individuals primarily responsible for this are SEC Chair Gary Gensler and Senator Elizabeth Warren.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
