US Firms Kraken and Coinbase take foot in Europe, thanks to obtaining licenses in the European Union and in the United Kingdom.
Kraken and Coinbase obtain licenses in Europe
This Monday, the 2 firms expressed advances with regard to their regulation in Europe. Kraken has indeed obtained the license of the European Union Mifid, a sesame to operate on the old continent. For its part, Coinbase has rather attacked the British market, with a Vasp license from the FCA in the United Kingdom.
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Kraken can thus extend the offer of derivative products that she offers in Europe, she was hitherto braked. As for Coinbase, VASP recording is a prerequisite to be able to provide services related to Fiat currency.
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Europe: New land of expansion for Crypto societies?
Kraken that his “expansion strategy” includes Europe. In hollow, it is of course the arrival of Mica that is underlined. European regulation has prompted service providers to build muscle their security procedures and information collection.
“”This acquisition reflects our confidence in the European Union and underlines our commitment to the provision of a trusted and regulated environment. »»
Coinbase does not mention the European Union, the United Kingdom having seceded. But the exchange platform stresses that its goal is to welcome the next billion users of cryptocurrencies, and that the country seems to be key in the region:
“”This recording represents an important chapter in the international expansion strategy of the company. Coinbase is committed to creating partnerships with high -flying regulators in various jurisdictions. »»
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European regulators have hardened the tone in recent months, while cryptocurrencies have aroused new interest. A few days ago, the European Financial Markets Authority (ESMA) reminded the service providers that unauthorized stablecoins were to be elected. Large platforms like Kraken and Coinbase therefore had to comply with these changes.
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Source: Coinbase, Kraken
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