Cryptocurrency exchange Kraken has received a VASP license from the Dutch Central Bank (DNB), allowing it to operate in the Netherlands.
Obtaining this license was an important milestone for Kraken, which is expanding its presence in #Europe, especially in the strategically important Dutch market. The company notes the high level of cryptocurrency adoption in the country, with around 20% of Dutch citizens owning digital assets.
Another milestone in our European growth strategy - Kraken received a registration from the Dutch Central Bank 🤝
— Kraken Exchange (@krakenfx) February 8, 2024
We look forward to welcoming all the new Dutch clients that are looking for an easier, better & more secure crypto experience.
Read more ⤵️ https://t.co/9rG46vUyit
Brian Gahan, Kraken's managing director, stated the company's commitment to the long-term development of the crypto industry in the region. He emphasized that VASP registration in the Netherlands accelerates their growth strategy in Europe, especially ahead of the implementation of the EU regulatory framework for cryptoasset markets (MiCA).
It is worth noting that the European Parliament approved the MiCA rulebook in May 2023. However, decentralized finance (#DeFi) was excluded from the document for further evaluation and decision-making. Kraken, which is already licensed to operate in Ireland, Italy and Spain, acquired Dutch crypto broker BCM in October 2023.
In November, the US Securities and Exchange Commission (#SEC) filed a lawsuit against Kraken, accusing the exchange of lacking a license and trading in unregistered securities. Kraken's legal counsel dismissed the regulator's lawsuit as baseless and without merit.
At the same time, another cryptocurrency exchange, #Binance, left the Dutch market in June 2023 after failing to obtain a #VASP license. A spokesperson for the regulator mentioned the possibility of Binance reapplying after the integration of #MiCA, which is expected to happen in 2024.
