Crypto exchange Kraken has been granted a Markets in Crypto-Assets Regulation (MiCA) license by the Central Bank of Ireland. The approval allows Kraken to legally scale its operations across all 30 member states of the European Economic Area (EEA), offering a full suite of regulated crypto services.
The announcement, made via a company blog post on June 25, comes just months after the MiCA framework came into full effect across the EU in December 2024. With the new license, Kraken is now poised to compete more aggressively with other globally active exchanges by offering spot trading, derivatives, custodial services, and payments infrastructure that align with the bloc’s harmonized crypto regulation.
The MiCA license, granted by one of the EU’s most respected financial supervisors, marks a significant regulatory achievement for Kraken. It enables the exchange to “passport” its services across the entire European single market without the need for separate authorizations in each country - a capability considered crucial for compliance efficiency and regional scalability.
Previously, Kraken operated under a patchwork of Virtual Asset Service Provider registrations in several EU states, including France, Italy, Spain, and the Netherlands. Those registrations allowed for limited services under each country’s national framework. The MiCA license now replaces this fragmented approach with a unified EU-wide compliance strategy.
“This authorization from the Central Bank of Ireland is not just a checkbox for regulatory alignment - it’s a key enabler of our long-term European growth strategy,” said Kraken Co-CEO Arjun Sethi. “We view the MiCA regime as a global standard in crypto regulation and are committed to leading through transparency, security, and responsible innovation.”
Building on a Broader Regulatory Foundation
Kraken’s approval in Ireland is the latest in a series of regulatory wins for the exchange in 2024 and 2025. Earlier this year, the company secured a Markets in Financial Instruments Directive license via its Cyprus-based entity, enabling it to expand into regulated financial instruments and offer crypto-linked investment products under EU rules.
In March 2025, Kraken also received an electronic money institution license from the UK Financial Conduct Authority, a move that strengthens its ability to integrate with traditional financial institutions and offer fiat-based services to UK clients post-Brexit. The EMI license allows Kraken to issue e-money, provide payment services, and operate digital wallets - services that are becoming increasingly essential as the lines blur between traditional finance and digital assets.
The MiCA framework represents the EU’s landmark effort to bring consistency and legal clarity to the crypto industry. Passed in 2023 and fully implemented in December 2024, the regulation mandates licensing for crypto asset service providers, with requirements covering custody, consumer protection, market integrity, and capital reserves.
MiCA is widely seen as the first comprehensive crypto regulation adopted by a major economic bloc. It sets clear rules for stablecoin issuance, obliges service providers to disclose risks, and imposes strict anti-money laundering and operational standards across the board.
By securing a MiCA license, Kraken positions itself among the small group of crypto exchanges able to operate legally and at scale across Europe- a market of more than 450 million people. “MiCA is a defining milestone for the digital asset space. Firms that meet its standards will be the ones driving the next phase of institutional and mainstream adoption in Europe,” said one regulatory expert following the announcement.
Competitive Field Growing in Europe
Kraken joins a growing list of global exchanges that have prioritized MiCA compliance to solidify their position in Europe. Coinbase, Bitstamp, Crypto.com, and others have similarly pursued regulatory approvals in jurisdictions like Luxembourg, Malta, and France, vying for first-mover advantages as the EU consolidates oversight under MiCA.
Coinbase, for example, registered with the Central Bank of Ireland as a VASP in 2022 and has since expanded its services under MiCA, while Bitstamp holds licenses in Luxembourg and other EU nations. These platforms, along with Kraken, are part of a broader trend of crypto firms aligning with stringent regulatory environments to attract institutional partners and bolster consumer trust.
Ireland’s emergence as a crypto licensing hub mirrors its traditional strength as a base for global fintech and payments companies. The Central Bank of Ireland is known for its regulatory rigor and deep financial expertise, making it an attractive destination for companies seeking long-term regulatory clarity within the EU. The MiCA license unlocks more than just geographic access - it enables Kraken to innovate more confidently in areas such as crypto derivatives, structured products, stablecoin payments, and tokenized asset custody.
With investor appetite growing for compliant, institutionally trusted crypto infrastructure, Kraken’s latest license could be a gateway to partnerships with European banks, asset managers, and fintechs looking to integrate digital assets into their platforms. It also sets the stage for potential product launches tailored to EU regulatory frameworks, including regulated staking services, on-chain fund products, and white-label B2B crypto rails.
From a strategic standpoint, the MiCA approval also reinforces Kraken’s position as a leading voice in shaping crypto regulation globally. The exchange has previously testified in front of U.S. congressional committees, participated in global policy dialogues, and supported legal challenges to unclear regulatory practices in other jurisdictions.