US Crypto Exchange Kraken Gets Licensed in Ireland

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Kraken, a US-based cryptocurrency exchange, has completed registration of its subsidiary Payward Europe Solutions with the Central Bank of Ireland as a Virtual Asset Services Provider (VASP).

This makes Kraken the third US crypto platform to be authorized to work in the European Union, after Gemini and Coinbase, which obtained registration in July and December 2022 respectively.

Mark Jennings, Head of European Operations at Kraken, has stated in a statement that the company is focused on cooperating with local regulatory authorities, and that “clear and effective regulation is essential for the introduction of cryptocurrencies into the mainstream.”

Kraken’s registration in Ireland is intended to demonstrate to both customers and regulators that the company is committed to upholding European anti-money laundering and compliance standards.

In February it was announced that Kraken had settled claims from the SEC, agreeing to pay $30 million in fines and end the staking service for US customers.