Kraken seeks new license to re-enter European market after Brexit

Kraken is the first cryptocurrency-casualty of England’s exit from Europe, the mainstream crypto exchange is in talks with different financial regulators across Europe to discuss the possibility of re-entering the European market before the end of the year.

Intialy, Kraken was licensed to operate in all countries on the continent, but the exchange will need to negotiate fresh terms of operation to obtain a fresh license, because it was operating as an entity that is registered with UK’s crypto watchdog, the financial Conduct Authority.

“As a regulation-compliant exchange that operates in nearly 190 jurisdictions around the world, Kraken maintains proactive and constructive dialogues with regulators across the fast-maturing European crypto regulatory landscape,” Kraken’s spokesperson told Decrypt. “We are working on a license in an EU country.”

The company believes that it meets the requirements laid out in the European Union’s Fifth Anti-Money Laundering Directive (5AMLD). But it will need to officially register with the regulators of in any European country to be able to operate in the region    

NEXT: MicroStrategy becomes the highest Bitcoin Hodler among Public Companies

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

Check Also


Lawyer Deaton Says SEC Didn’t Tell The Truth About Main Focal Point In Ripple Case

After the SEC refused to allow I-Remit and TapJets to file amicus briefs supporting Ripple …

Leave a Reply

Your email address will not be published.