Kraken received a VASP license from the Dutch Central Bank. This means that the cryptocurrency exchange can now offer digital asset services to the Dutch. Interestingly, this is the fourth VASP license obtained in Europe. Does Kraken want to anchor itself more and more firmly on the Old Continent with its tentacles?
Kraken has received licenses – which European country is next?
Kraken focuses on expansion, which is perfectly proven by the exchange obtaining another license to operate in Europe. This time Kraken received a VASP license from the Dutch Central Bank. According to the announcement on February 8, the exchange will be able to offer its services in the field of exchange, transfer and storage of digital assets in the Netherlands.
The VASP license is a regulatory framework that is designed to supervise companies providing digital asset services. Under the Cryptocurrency Markets Regulation (MiCA), entities providing digital asset services in the European Union must comply with a number of requirements. All this in order to prevent money laundering and terrorist financing.
The Kraken exchange targets key markets in Europe, as evidenced by the recently obtained license in the Netherlands. In addition to the Netherlands, Kraken also has VASP licenses in Spain, Italy and Ireland. Moreover, Kraken also offers cryptocurrency services in Belgium through a licensed subsidiary.
Kraken is betting on Europe – a decision resulting from the tense situation with the SEC
Further VASP licenses obtained by the Kraken exchange are a clear sign that the company is investing in Europe. This decision may certainly be dictated by the current situation between Kraken and the US Securities and Exchange Commission. It is worth recalling that the stock exchange has already been fined several times by the American regulator.
One of the latest lawsuits is the allegation that the exchange operates on the American market without proper registration. The reaction of the stock exchange's CEO, Jesse Powell, was sharp, which could suggest the search for new markets. The fact that Kraken has received a VASP license in the Netherlands is just saying that Kraken now intends to invest in European markets. Which next European country will a cephalopod-branded stock exchange be interested in?