Kraken has received official approval under Europe’s new Markets in Crypto-Assets (MiCA) framework, marking a major milestone in the exchange’s international expansion strategy. On Wednesday, the company announced it had secured a MiCA license from the Central Bank of Ireland, granting it the authority to offer regulated crypto services to residents across all 30 countries in the European Economic Area (EEA).
The move positions Kraken among the first major crypto platforms to fully align with MiCA’s stringent compliance requirements. According to Kraken co-CEO Arjun Sethi, the licensing process demanded years of regulatory diligence.
“We believe trust is the most valuable currency in crypto, and it’s something you earn, ” Sethi noted.
Kraken previously secured a Markets in Financial Instruments Directive (MiFID) license earlier this year and an Electronic Money Institution (EMI) license in 2023, laying the groundwork for this broader approval.
Race for MiCA Approval Reshapes Exchange Strategies
Kraken is not alone in its MiCA journey. Leading crypto firms like Coinbase, OKX, Crypto.com, Bybit, and Bitstamp have all secured or are pursuing MiCA licenses to cement their foothold in Europe. Gemini is reportedly on track for registration in Malta, and more platforms are expected to follow as the EU’s regulatory framework becomes the standard for operating across borders in the bloc.
MiCA, which began rolling out in 2024 after years of negotiation among EU lawmakers, is aimed at harmonizing digital asset regulations and increasing consumer protection throughout the region. While it has been broadly welcomed by major exchanges, not all crypto companies are on board. Stablecoin issuer Tether has opted out of pursuing MiCA registration for its USDt token, prompting several European platforms to delist the popular stablecoin in anticipation of legal complications.
Kraken’s VP of Growth, Matthew Howells-Barby, recently told CoinRock that MiCA brings a level of scrutiny that leaves no stone unturned.
“The regulators across Europe watch everything we do. And when I say everything—I mean every email, every word in a push notification, even forgotten corners of the website,” he said, adding that compliance is now a day-to-day operational mindset for regulated crypto firms.
U.S. Regulatory Gaps Highlight Europe’s Lead
While Europe pushes ahead with clear and consistent crypto regulation, the U.S. continues to lag. Just a week before its MiCA license announcement, Kraken officially relocated its global headquarters to Wyoming, praising the state’s crypto-forward policies. The move was seen as both symbolic and strategic, highlighting the contrast between Europe’s harmonized regulatory regime and America’s fragmented approach.
In Washington, multiple proposals aimed at creating a comprehensive digital asset framework remain stalled in Congress. Meanwhile, Kraken continues to face scrutiny from U.S. regulators. Although the SEC recently dropped a civil lawsuit it filed in 2023 alleging Kraken operated without proper registration, the regulatory environment remains uncertain for centralized exchanges operating on U.S. soil.
By obtaining the MiCA license, Kraken now enjoys a passport-like ability to scale its services across the EU, while its American operations must still navigate a patchwork of legal hurdles.
Quick Facts
- Kraken has secured a MiCA license in Ireland, allowing it to operate across all 30 EEA countries.
- The exchange previously obtained MiFID and EMI licenses to build a regulatory base in Europe.
- Other major platforms like Coinbase and OKX have also received MiCA approval in 2025.
- Kraken’s license highlights the growing regulatory divide between Europe and the United States.
