Kraken Receives a MiCA License from the Central Bank of Ireland

Kraken, the second-largest crypto exchange in the U.S., has received a MiCA license from the Central Bank of Ireland. The license grants the exchange the approval to offer compliant crypto services across all 30 EU member states. This marks another key regulatory milestone for Kraken, following its e-money institution license in 2023 and MiFID authorization in February 2025. 

Co-CEO Arjun Sethi, said the team has worked tirelessly over the past several years to meet the Central Bank of Ireland’s highest standards for approval. He added, “We believe trust is the most valuable currency in crypto, and it’s something you earn.” With Kraken receiving a MiCA license to offer its crypto services to EU countries, it Joins other exchanges, such as Coinbase and Bybit in expanding their crypto services. 

What the MiCA License Means for Kraken Users

The MiCA framework is the first comprehensive pan-European legal framework that took effect in 2024 after in-depth discussions from EU policymakers. It was established to govern issuance, trading, custody, AML/KYC, and ensure consumer protection for crypto service providers. However, not all crypto firms have fully embraced the MiCA regulations. One such example is Tether, which said it will not pursue a MiCA registration for its stablecoin USDT. Following the information, many exchanges proceeded to delist the token. 

Kraken, already a virtual asset service provider in seven EU countries, can now expand its services to the remaining jurisdictions under the MiCA framework, instead of juggling different national licenses. This adds to the exchange’s credibility and willingness to offer fully-compliant services, after securing MiFID authorization for investment services in February 2025 and EMI license in 2023. 

The Impact on the Industry and the Continent

Kraken customers have consumer protection, thanks to the MiCA framework. This fosters trust on the exchange and boosts crypto’s legitimacy across the continent. Also, Kraken’s move, in addition to Bybit, OKX, and Coinbase’s approval, means Europe is becoming a safe haven for compliant crypto operations. Competitions coming to offer their trading services in Europe must be aware of the regulatory steps they must conquer to guarantee their expansion. 

For Kraken, a single regulatory license instead of multiple national licenses means operational efficiency, lower costs, and faster rollout of services for its customers. Kraken can now aggressively launch products that target both retail and institutional traders across the EU zone. 

The U.S Still Lags Behind in Regulations

The MiCA license establishes Europe as a global reference point for compliant markets, thanks to its stringent rules. However, countries like the U.S. are still playing catch-up to MiCA crypto regulations. 

The United States, in particular, are more lax in their regulations following the re-election of Donald Trump. The president is keen on seeing the country become the crypto capital of the world. So far, he has backed his words with the GENIUS Act proposal and the establishment of a Bitcoin Strategic Reserve. 

However, this dream may be met with catastrophic incidents if it’s not backed by sufficient regulations. The key is not to stifle innovation, but encourage it in the most compliant and secure way. Congress is still considering establishing the digital asset market structure framework that will provide regulatory guidelines for payment stablecoins.    

What’s Next for Kraken?

Kraken’s recent MiCA approval will open doors for institutional onboarding. It will attract more funds and investors. In addition, it will push for more crypto adoption among retail users, particularly those in the EU region. Furthermore, expect new offerings and products for EU retail and institutional clients. Finally, more exchanges will leverage the license to expand their offerings to EU users.