Kraken Obtains MiCA License in Ireland
Cryptocurrency exchange Kraken has announced an expansion of its services across the member states of the European Union after obtaining a license under the Markets in Crypto-Assets (MiCA) framework.
In a notice released on Wednesday, Kraken stated that it received the MiCA license from the Central Bank of Ireland, enabling the exchange to provide regulated services to residents across the 30 member states of the European Economic Area. This approval follows Kraken’s acquisition of 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,” remarked Kraken co-CEO Arjun Sethi.
Source: Kraken
Other crypto exchanges aiming to expand their regulated services in the EU are likely pursuing MiCA approval. Coinbase, OKX, Crypto.com, and Bybit have all announced MiCA licenses in 2025, with reports suggesting Gemini is on track for approval in Malta.
Related: Despite Trump’s endorsement, crypto is leaning towards MiCA rather than America: Paybis
MiCA, which started coming into effect in 2024 following extensive discussions and debates among EU policymakers, aims to create regulatory consistency across the region for digital assets.
However, not all crypto companies are in favor. Stablecoin issuer Tether has announced its decision to forgo MiCA registration for its USDt (USDt) stablecoin, prompting some exchanges to delist the token.
US Lagging Behind in MiCA Crypto Regulations
Kraken’s announcement regarding MiCA arrived about a week after the exchange relocated its global headquarters to Wyoming in a move signaling recognition of pro-crypto policymakers and favorable regulations.
With a significant portion of its operations still handled in the US, Kraken remains subject to US laws currently being deliberated in Congress, aimed at establishing a market framework for digital assets and providing regulatory guidelines for payment stablecoins.
In March, the US Securities and Exchange Commission (SEC) dismissed a civil lawsuit against the exchange, which had been filed in 2023, alleging that Kraken operated as an unregistered exchange, broker, dealer, and clearing agency.
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