Bitcoin exchangeAccording to Kraken, the central bank of Spain granted it authorization to operate as a virtual asset service provider there.The exchange will soon be able to provide Spanish citizens with exchange and custody wallet services.According to a press statement issued on Tuesday, Kraken’s Irish subsidiary also received an e-money institution (EMI) license from the central bank of Ireland, allowing it to expand its “EUR fiat services in partnership with banks” throughout the nation and throughout Europe.
Since the European Union made its regulatory policy regarding cryptocurrencies more clear, exchanges have been eager to expand throughout the continent. Coinbase recently opened a Spanish account.The markets in crypto assets regulation (MiCa), which was developed by the EU, is scheduled to go into force in 2024.
“We see a firm foundation for crypto in Europe, which has forward-looking regulation that enables us to grow with confidence,” said Curtis Ting, Kraken’s vice president of global operations. “We are grateful for the constructive approach to regulating industry growth set by the Central Bank of Ireland and the Bank of Spain. In both Ireland and Spain, we are excited to become part of their vibrant local fintech sectors. We also look forward to continuing our investments in Europe more broadly.”