Kraken has become the first major global crypto exchange to secure a full Markets in Crypto-Assets (MiCA) license through the Central Bank of Ireland, enabling the company to offer regulated digital asset services across all 30 European Economic Area (EEA) countries.
The license, granted June 26, positions Kraken ahead of the European Union’s year-end MiCA compliance deadline for crypto asset service providers.
The license grants authorization for all seven regulated crypto activities under MiCA, including custody, trading, portfolio management, and payments. It folds Kraken’s existing virtual asset service provider (VASP) registrations in France, Italy, Spain, and the Netherlands under a single regulatory umbrella.
While Kraken’s MiCA license formally unlocks passporting rights, those rights are activated only once the Central Bank of Ireland uploads the authorization to the European Securities and Markets Authority’s (ESMA) central CASP register. The timing of that upload could vary. Meanwhile, some national regulators may impose additional anti-money laundering checks, which could introduce local onboarding frictions even under the harmonized regime.
Regulatory clarity around crypto activities is gaining traction as MiCA’s sunsetting period comes to a close. ESMA has called on crypto firms to delist non-compliant tokens and prepare for robust technical standards expected to evolve through 2025. For exchanges like Kraken and Coinbase, securing a MiCA license early may limit future disruptions, ease institutional onboarding, and offer stable legal ground for expansion.
The firm’s co-CEO Arjun Sethi said the license “affirms Kraken’s commitment to building for the long term,” adding that it “places us in a strong position to expand our product offering.”
